According to TGGR Monthly Bulletin, the budget deficit of the Ministry of Finance was 21.1 billion dirhams (MMDH) at the end of February 2025 around 3.8 MMDH in the previous year. This deterioration is associated with a strong increase in costs that reached 96 mmdh (+41.6%).
The regular raw sales rose from 9.7% to 56.6 mmdh, supported by a slight increase in the net inches (+1.3%) at 14.735 mmdh. Under compensation, no costs were recorded, which reflects the control of the fees in this area.
This budget situation shows a temporary imbalance between income and expenses, despite a positive dynamic on the side of the tax revenue. The stability of customs income and the prudent management of the remuneration costs could reduce household pressure in the medium term.
In view of this context, the prospects of the capacity of the Ministry of Finance remain in order to expand its tax basis and to control the development of expenses and at the same time to maintain a balanced household framework.
M.Ba.
