Morocco’s customs revenue hit a milestone of 13.26 billion dollars last year, up 1.2% from a year earlier, offering a boon for an expansionary state budget. The performance came on the back of higher custom duties as well as taxes on manufactured tobacco, the customs administration said. The record was 1.59 billion dirhams higher than expected in the appropriation bill. The same year, Moroccan customs seized 2 million counterfeited items, compared with 1.8 million a year earlier. Higher customs revenue together with more tax receipts are expected to help narrow Morocco’s budget deficit to 4% this year, after 4.29% last year.

Source: The North Africa Journal June 15, 2024 14:01 UTC