The examination of the provisional results of the execution of the state budget at the end of May 2019 shows a budget deficit of 2.16 billion dinars, against a deficit of 1.52 billion during the same period of the previous year.
Compared with the results recorded at the end of May, the State’s own revenues grew by 18.5% (+2.1 billion dinars) to 13.6 billion dinars, of which loan resources and cash of 4.76 billion dinars, up 42.4% (+1.4 billion dinars).
In detail, the tax revenues of the state stood during the first five months of the year at 12 billion dinars, against 10.2 billion a year earlier, i.e. a growth of 17.7 %. In contrast, non-tax revenue grew by 25.4 percent to 1.6 billion dinars.
Direct taxes amounted to 5.4 billion dinars, compared to 3.88 billion dinars at the end of May 2018, an increase of 39.2%.
This amount comes mainly from income taxes of 3.84 billion dinars (+ 38.4%) and corporate taxes of 1.55 billion dinars (+ 41.5%) of which 454.6 million dinars of taxes on oil companies.
As for indirect taxes, they rose by 4.4% to 6.6 billion dinars. They come mainly from VAT up to 3.13 billion dinars (+ 5.8%), consumer rights for 1.14 billion (+ 0.7%) and customs duties for 549.2 million dinars. dinars (+ 19.9%).
The total expenditure at the end of May amounted to 18.36 billion dinars, against 14.82 billion a year earlier, an increase of 23.9%.
This growth is mainly attributable to the 18.6% increase in non-core debt expenditures reaching 15.4 billion dinars, including 9.16 billion in management expenditure (+ 9.4%) and 1.68 billion in interest on the debt (+ 17.7%).
The principal repayment of the debt went from 1.82 billion dinars at the end of May 2018 to 2.95 billion as of May 30.
At the end of May, the wage bill of civil servants reached 6.9 billion dinars (+ 10.2%), representing 75.4% of total state management expenditure.
Capital expenditure (development) amounted to 2.45 billion dinars (+ 5.1%), including 1 billion direct investments.
The outstanding public debt reached 82.77 billion dinars at the end of May, against 81.34 billion at the end of the year 2018, divided between 59.56 billion foreign debt and 23.21 billion of domestic debt.
Moreover, the budget deficit (-2.16 billion dinars) was covered by 1.97 billion dinars by domestic financing, 300 million dinars by confiscated revenues, 163.4 million dinars through external financing and 60.9 million by donations.
It should be remembered that the Finance Act for the 2019 financial year is based on a budget deficit of 4.5 billion dinars, representing 3.9% of GDP, compared to a deficit of 5 billion dinars (4.8% of GDP) for 2018.