State budget records $ 1.49 billion deficit in 2nd half of 2000

Morocco's state general budget suffered a deficit of 15.7 billion DH ($ 1.49 Bln) in the July-December 2000 period, at a time forecasts had put the deficit at $ 1.57 billion, says the ministry of economy, finance, tourism and privatization.

Ordinary receipts were worth 43.3 billion DH, declining by 22.3% compared to the corresponding period of 1999, buoyed by the sale of the second GSM license ($ 1.1 Billion). If these exceptional returns are not counted, the decline would stand at 3.5% both between July-Dec. 1999 and July-Dec.2000.

Ordinary expenses increased by 0.9 %, from 42.5 billion DH in the second half of 1999 to 43 billion DH in the same period of 2000. The increase is mainly ascribed to higher subsidies expenses and external public debt servicing which grew respectively by 27.9% and 3.3%.