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FinancialNews
13-07-19
Moroccan Budget deficit up 6.9 percent by end of June
(MENAFN) Morocco's budget deficit was 21.8 billion dirhams (USD2.3 billion) at the end of June, up 6.7 percent from a year earlier due to a 9.7 percent drop in regular treasury resources, a 10.9 percent rise in expenditures, And a positive balance of 8 billion dirhams (USD832 million) in the private accounts and accounts of independent entities during this period.
Treasury resources were characterized by the acquisition of 3.35 billion dirhams (USD353 million) from the sale of shares of Maroc Telecom to institutional investors during this period.
However, the volume of non-tax resources declined by 57 percent due to the non-recurring reallocation of Gulf grants, which last year represented the transfer of 24 billion dirhams (USD2.53 billion) from the Gulf grants account to the general budget account.
It should be noted that the agreement signed between Morocco and the Gulf Cooperation Council (GCC) was reached last year and has not been renewed.
MENAFN1307201900450000ID1098754127
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