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Morocco's Ministry of Economy and Finance revealed that the budget deficit for the current year would be higher than expected by 9.7 billion dirhams ($ 1.02 billion dollars).
According to the ministry, the budget deficit at the end of this year will reach 43 billion dirhams ($ 4.53 billion dollars), it will represent 3.8 percent of GDP, while it was planned not to exceed 33.4 billion dirhams ($ 3.52 billion dollars) in the budget, i.e. a 3 percent of GDP.
The report attributed the aggravation in government budget deficit to a drop in tax revenues of about 3 billion dirhams (315.8 million dollars), as a result of the decline in the tax revenue on corporate profits by about 2.9 billion dirhams (305.3 million dollars), compared with what was expected when the budget for 2018 was drafted.

Source: (Al-Sharq Al-Awsat newspaper, edited)