Mubasher: Moroco reported a MAD 24.6 billion in budget deficit in the first half of 2016, with a 24.24% year-on-year increase, according to a report by the Moroccans Department of Treasury and External Finance (DTFE).
This is attributed to the increase in spending with free money transfers, the report indicated, (MAP) Morocco's news agency reported, adding that tax returns increased in a satisfactory manner.
The good tax performance is mainly due to the 8% increase in corporate taxes to MAD 23.8 million.
Public revenues increased 6.8% thanks to the rise in tax returns, while expenditure grew 3.5%, the report indicated.
