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Morocco records budget surplus

Morocco has achieved a $533 million surplus in its budget, the Ministry of Economy and Finance announced, after recording a deficit of $14.45 million last year.

Observers believe the figures show that the fiscal and financial policy pursued by Abdelilah Benkirane's government, including the adoption of so-called "auto-entrepreneurship", has begun to bear its fruit.

The Ministry of Economy and Finance attributed its surplus to higher revenues compared to expenditures, as well as increasing the revenues from some private accounts.

According to the Moroccan Public Treasury, which is governed by the Ministry of Finance and Economy, budget revenues reached $1.7 billion during the last month, compared to $1.69 billion during the same period last year, an increase of 0.6 per cent. Expenditures amounted to $1.475 billion in January, compared to $1.762 billion in January last year, a reduction of 16.6 per cent.

Meanwhile, the value of investments reached $850.450 million during the past month, compared to $880 million during the same period last year, a decline of 6.7 per cent.

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