Executed at 36.5% with respect to the provisions of the Finance Law
“The implementation of the budget law for the year 2022 takes place in a context marked by the continuation of the recovery of economic activities that began in 2021, but which remains confronted, on the one hand, with the weak cereal campaign and, on the one hand, by the ‘other, to the increase in the prices of raw materials, in particular energy and cereals, to inflationary pressures and the interruption of global production and supply chains. ”It is in these terms that the Ministry of Economy and Finance comments on its recent statistical document. A publication that highlights the results of the implementation of the provisions of the Finance Law by establishing a comparison with the results achieved in the same period of the previous year. Therefore, the situation of the Treasury’s expenses and resources at the end of April 2022 shows a budget deficit of DH 11.5 billion, compared with DH 21.7 billion the previous year.
This variation covers an increase of DH 18.1 billion in revenues which remains higher than the total expenditure (+7.8 billion DH). On a net basis of tax refunds, allowances and refunds, receipts increased by 23.2% in the first four months of the year to 96.01 billion DH compared to 77.95 billion DH the previous year. They also show a realization rate of 36.5% compared to the provisions of the Finance Law. “Tax revenues generally showed a good performance, with an increase of 16.2 billion DH or 22.5%, thus registering a realization rate of 39.6%, despite the continuous effort to reimburse VAT credits” , can be seen from the publication of the Ministry of Economy and Finance. And to add that “reimbursements, reductions and reimbursements, including the share to be paid by local authorities, thus reached the figure of 6.9 billion DH, against 4.6 billion DH at the end of April 2021”. In addition, the execution of ordinary expenditure shows an increase of 12.9%, or emissions of approximately 98.51 billion DH.
They were carried out at the rate of 37.6% compared to the forecast of the budget law. “This change compared to the end of April 2021 is mainly due to the increase in compensation costs (+6.3 billion DH) and in expenses related to goods and services (+4.6 billion DH)”, note-t- on of the statistical document. And specify that “the increase in compensation costs is attributable, in particular, to the increase in the price of butane gas which reached an average of $ 885 / T compared to almost $ 528 / T at the end of April 2021. These costs they recorded an execution rate of 73.1% ”.
As for the special accounts of the Treasury, they generated a surplus of almost DH 17.8 billion, against DH 12.2 billion at the end of April 2021. “The resources of the special accounts of the Treasury take into account an amount of 6, 1 billion DH corresponding to the product of the social solidarity contribution on profits and income, destined for the Fund to support social protection and social cohesion, against 3.2 billion DH at the end of April 2021 “, explains the ministry in its publication . It should be noted that the Treasury’s financing needs are mainly covered by recourse to the internal market. At the end of April it amounted to DH 19.2 billion. “This need, increased by the net flows of investments on the money market (+4.9 billion) and on external financing (+200 million), was mainly covered by the use of the domestic debt market for a net flow of 15 billion DH ”, We keep in this sense.
With reference to the Ministry of Economy and Finance, the flow of internal debt covers subscriptions for almost DH 50.4 billion, compared to DH 49.8 billion the previous year, and principal repayments of 35.4 billion of DH, against 34.7 billion. In addition, that of the external debt covers withdrawals of approximately DH 2.9 billion, against DH 6.4 billion at the end of April 2021, and depreciation of DH 3 billion, against DH 3.4 billion a year earlier. .