Rabat – Morocco’s Ministry of Finance recorded a dramatic increase in his budget deficit by the end of February 2025 and reached MAD 21.1 billion (2.1 billion US dollars).
This is a significant deterioration in the MAD deficit of 3.8 billion ($ 0.38 billion) in the same period of the previous year.
The latest monthly bulletin of public financial statistics states that this deficit factorates in a positive remaining amount of $ 14.2 billion (1.42 billion US dollars) from Special Treasury Accounts (CST) and autonomously managed state services (SEGMA).
In the meantime, gross revenue to MAD 56.6 billion (5.55 billion US dollars) rose, which increased in an increase of 9.7% compared to the MAD 51.6 billion (5.16 billion US dollars) in February 2024.
This increase mainly results in a significant increase in direct taxes by 48.1% and an increase in indirect taxes by 7.1%.
Registration and stamp tasks also increased by 2.8%. However, these profits were not compensated for by a decrease in customs tasks by 6% and a sharp sales tax turnover of 58.5%.
The normal expenditure rose by 50.5%on the output side. This increase resulted from an increase in expenses for goods and services by 49.6%, which is due to a massive increase in costs for different goods and services by 130.2%, although personnel costs have decreased by 0.8%.
The fees for debt interest rose by 37.2%, while tax refunds, relief and provisions increased by 363.4%. Compensation-related expenses fell by MAD $ 500 million ($ 50 million).
Based on collected income and expenses, Morocco gave a negative ordinary balance of 18.2 billion (1.82 billion US dollars) -a strong contrast to the positive remaining amount of MAD 1.9 billion (0.19 billion US dollars) in the previous year.
The total expenditure of general budget expenses reached 96 billion ($ 9.6 billion) by February 2025, which corresponds to an increase of 41.6% compared to the previous year. This growth reflects an increase in operating costs by 52.2%, a modest increase in investment expenditure by 1.3% and a significant increase in debt costs by 73.9%.
Special accounts recorded 43.6 billion (4.36 billion US dollars) for income, while their expenses reached 29.8 billion (2.98 billion dollars), which led to a positive remaining amount of MAD 13.8 billion ($ 1.38 billion).
