A budget surplus of 5.9 mmdh at the end of March – mafric

The execution of the finance law (LF) at the end of March 2025, reveals a positive budgetary balance of 5.9 billion dirhams (MMDH), according to the general treasury of the Kingdom (TGR).

This balance results from ordinary resources (excluding borrowing recipes) from 184.1 MMDH and loads (excluding depreciation of the debt) of 178.2 mmdh, specifies the TGR in its recent quarterly ratio on the execution of the LF.

Given borrowing revenues of 29.2 mmdh and debt depreciation of 12.1 mmdh, the execution of the LF releases a surplus of resources on the loads of 23.1 MMDH, the same source said.

The overall state resources during the T1-2025 reached 213.4 MMDH, a production rate of 32.4% of the LF forecasts, knowing that the reimbursement of the value added tax (VAT) and the requests for restitution of the corporate tax (IS) were respectively 32.9 MMDH and 4.7 MMDH at the end of December 2023.

These overall state resources are distributed over ordinary revenue (53.4%), medium -term borrowing revenues (13.7%), revenue from special treasury accounts – CST (32.6%) and revenue from the state services managed independently – SEGMA (0.3%).

With regard to total state charges, they have reached 190.3 MMDH, a production rate of 26.4 % of LF forecasts.

They are distributed over ordinary expenditure of the general budget (54.2%), investment expenditure (14.7%), CST emissions (24.6%) and debt depreciation (6.4%).

(With map)