Budget deficit narrows to nearly 3.8 billion dinars at end September
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Loading... - Hilary Allen
- 03 Dec 2021
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The budget deficit has narrowed to nearly 3.8 billion dinars, at the end of September 2021, against 4.9 billion dinars, in September 2020, down 23%, according to the document on the "Provisional results of the execution of the state budget", published by the Ministry of Finance Thursday.
The decrease in the budget deficit is due to the increase in budgetary resources by 10.3%, to 23.5 billion dinars, due to the rise in tax revenues by 15% (to 22.2 billion dinars), against a smaller growth in budgetary expenses of 5.9%, to 27.2 billion dinars.
The change in budgetary expenses is explained mainly by the increase in compensation expenditures wage by 6.8%, from 14.1 billion dinars to 15 billion dinars, within one year (September 2020-September 2021).
The Ministry of Finance also reported the increase in cash resources by 18% to 12.8 billion dinars, 86% of which come from borrowing resources (11.1 billion dinars) at a rate of 50% of domestic borrowing and 50% of external borrowing.
These resources have been allocated, primarily, to the repayment of the principal of the debt (7.9 billion dinars) and financing the deficit (3.7 billion dinars).
The document has highlighted, in addition, an increase in public debt service by 32%, during the first nine months of the year 2021, to 10.7 billion dinars.
As for the outstanding public debt, it exceeded 101 billion dinars, at the end of September 2021, against 90.4 billion dinars, in September 2020, which corresponds to a rise of 12.6%. Read More…
