These revenues have thus recorded a 59% implementation rate, despite the continued effort to refund VAT (value added tax) credits, the Ministry in its June 2022 report on the situation of the Treasury’s expenses and resources (SCRT).

Refunds, rebates, and tax refunds, including the share borne by local authorities, have reached an amount of 8.6 billion dirhams, against 6.4 billion dirhams at the end of June 2021.

Regarding the situation of Treasury expenses and resources in the first half of 2022, it revealed a need for capital amounting to MAD 22.1 billion.

This need, supplemented by the net flow of investments on the money market (+2.9 billion dirhams), was covered mainly by resorting to the domestic debt market for a net flow of 18.4 billion dirhams, while the net flow of external debt amounted to 133 million dirhams (MDH), according to the same source.

The flow of domestic debt includes subscriptions amounting to nearly 70.9 million dirhams, against MAD 75.6 million a year earlier. In turn, principal repayment amounted to 52.6 million dirhams, compared to MAD 52.2 million a year before.

The external debt covers drawings of the order of 5 billion dirhams, against 8.8 billion dirhams at the end of June 2021.

Source: Agency Morocaine De Presse