Budget deficit slows down 38% to 3 billion dinars at end of August 2021

The budget deficit has slowed down by 38% in the first eight months of the year 2021, to 3 billion dinars, from 4.9 billion dinars, at the end of August 2020, according to the provisional results of the execution of the state budget released by the Ministry of Finance Saturday.

This drop in the deficit was helped by the increase in budgetary resources by10.4%, to 20.5 billion dinars, thanks to the improvement of tax resources by nearly 16%, to 19.3 billion dinars.

On the other hand, budgetary expenditure recorded a minimal increase of 2%, to 23.5 billion dinars, due to higher expenditure on remuneration up 5.7%, rising from 12.6 billion dinars, at the end of August 2020, to 13.3 billion dinars, at the end of August 2021. In fact, the wage bill accounts for 56.6% of total state expenditure.

Cash resources grew nearly 14% to 11.7 billion dinars at the end of August 2021, according to the same document.

These resources are composed mainly (up to 82%) of borrowing resources, which amount to 9.6 billion dinars, including domestic borrowing resources to the tune of 5.4 billion dinars, and external borrowing resources of about 4.2 billion dinars, and also other resources (2.1 billion dinars).

Two-thirds of cash resources (about 7.6 billion dinars) were allocated to the repayment of the principal of the debt, while nearly 3 billion dinars were reserved for financing the deficit and 1.2 billion dinars for net loans and advances from the Treasury.

 

Source: Tap News Agency