The Ministry of Economy and Finance, in an official report, stated that the situation of the treasury’s expenses and resources at the end of September 2022 recorded a budget deficit of 11.2 billion dirhams, an improvement of 31 billion dirhams compared to the same period in 2021 recording 42.4 billion dirhams in deficit.
The ministry said in its special bulletin on the situation of the treasury’s expenses and resources of September 2022 that this development covers an increase in income (+45.5 billion dirhams) that exceeds the increase in public expenditures (+14.3 billion dirhams).
According to the source, incomes recorded, on a net basis of tax refunds, exemptions, and refunds, an increase of 45.5 billion dirhams, the equivalent of 24.5 percent, compared with the end of September 2021 and an 88 percent completion rate compared with the Finance Act’s projections.
On the other hand, the report highlighted that tax revenues generally performed well, with an increase of 30.9 billion dirhams, the equivalent of 19 percent, thus registering a completion rate of 86.8 percent, despite higher tax refunds, exemptions, and refunds that accounted for a total of 10 billion dirhams, compared with 7.5 billion dirhams in September 2021.
Non-tax incomes amounted to about 35.2 billion dirhams, compared to 20.7 billion dirhams in September 2021, an increase of about 14.5 billion dirhams.