Rédaction Africa Links 24 with L’Opinion
Published on 2024-03-18 16:10:00
According to the latest monthly bulletin from the ministry, public revenues have surged impressively, rising by 16% to reach a total of 49.9 billion dirhams during the first two months of 2024. This is a real boost for the state’s coffers, but the story doesn’t end there.
In parallel, expenditures have also increased, but at a slower pace, reaching 59.6 billion dirhams, an increase of 10.9% compared to the same period last year. This controlled growth in expenditures has played a crucial role in reducing the country’s budget deficit. Indeed, by the end of February, the deficit had significantly narrowed to 9.6 billion dirhams, a decrease of about 9.5% compared to the previous year.
This result is not a coincidence, but rather the result of a deliberate strategy of fiscal and budget management. Much of the revenue growth can be attributed to an increase in tax collection, which accounts for more than 80% of the total budget revenues.
However, the picture is not without challenges. Expenditures, although generally controlled, have been somewhat burdened by an increase in state employees’ salaries, recording a rise of about 3.8%.
Furthermore, external factors also influence the Kingdom’s financial situation. Morocco’s external debt interest rates have increased significantly, rising by 48.6% to reach 1.2 billion dirhams by the end of February. However, this increase has been offset by a decrease in domestic debt interest rates.
Nevertheless, Morocco remains on the path of reform and economic growth. The International Monetary Fund’s forecasts indicate a positive trajectory, with a projected reduction in the budget deficit to 3.3% by 2026. An encouraging outlook that emphasizes the importance of budget discipline and the effectiveness of fiscal policies.
To achieve this, the government has committed to intensifying its efforts to increase tax revenues and streamline expenditures. Measures such as tax collection reform and the expansion of non-tax revenues are at the heart of this strategy.
Read the original article(French) on L’Opinion
