Budget deficit down 41.7%, end of March 2018 (Finance Ministry) | Tunisia News Gazette

Budget deficit down 41.7%, end of March 2018 (Finance Ministry)

The budget deficit edged down 41.7% to 1,079.4 million dinars (MD) by the end of March 2018, against 1,852.3 MD at the same period in 2017, according to the report on “Provisional Results of the State Budget Execution, March 2018,” published Wednesday by the Finance Ministry.

At this rate by the end of the current year, the budget deficit will not reach the 5,216 MD, projected in the 2018 Finance Law, equivalent to 4.9% of GDP.

According to the document, this improvement was driven by a significant increase in non-tax receipts to 901.1 MD during the 1st quarter of 2018, compared to 279.3 MD during the same period last year, mainly because of the revenues generated in terms of income from investments and public companies (396 MD in March 2018, against 5.9 MD in March 2017) and the relaunch of fuel marketing (150 MD in 2018, against zero sales, at the same date in 2017).

This development in the non-tax revenues was accompanied by a slight decrease in borrowing resources (2,111.7 MD) compared to the forecasts of the 2018 Finance Law and particularly external borrowing (677.4 MD at the 1st quarter of 2018 against 879.2 MD in the same period in 2017).

The Department of Finance explained the budget deficit by the increase in external debt repayment charges (to 458.4 MD in March 2018 against 285.7 MD in 2017), the domestic debt (460.6 MD against 382. 3 MD) and interest on the debt (919 MD against 668 MD).

On the other hand, management expenses dropped from 5,504.2 MD in March 2017 to 4,964.7 MD in March 2018.

The department revealed in this document that the deficit had been met by means of net domestic funding.

Regarding Tunisia’s external debt, the finance ministry pointed out that 47.8% of the outstanding debt is in Euros, 27.3% in Dollars, 11.4% in Yen and 13.5% in other currencies.

Source: TAP News Agency

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