Budget execution: Budget deficit narrows by 65% late September 2023

The budget deficit narrowed by 65% during the first nine months of 2023, to TND 1.320 billion compared with TND 3.764 billion during the same period in 2022, according to the State budget execution document published by the Finance Ministry. This improvement is explained by the 9% increase in State revenue to TND 30.78 billion, due to the rise in tax revenue by 9.5% to TND 28.37 billion and non-tax revenue by almost TND 2.1 billion. However, budget expenditures were up slightly by 2.5% to TND 31.789 billion at the end of September 2023, due to the 25.8% increase in financing costs (debt interest) to TND 4.06 billion and the 2.8% rise in remuneration costs to TND 16.10 billion. Investment expenditures also rose to TND 2.98 billion. Treasury resources fell slightly to TND 10.215 billion by late September 2023, compared with TND 10.52 billion during the same period in 2022, according to the same source. Source: Agence Tunis Afrique Presse