The Secretary General of the Ministry of Finance, Abdul Hakim Al-Shibli, reviewed the preliminary financial data and performance of the public finances during the first quarter of this year before the Parliamentary Finance Committee, on Thursday.

Al-Shibli stated that the data showed a clear improvement in local revenue collections, which increased by about 166 million dinars, or 9.1%, compared to the same period last year, to reach about 1.995 billion dinars.

He said: The public expenditure data witnessed an increase to reach approximately 2.388 billion dinars during the first quarter of this year, compared to the same period of last year by 184 million dinars, an increase of 8.4%.

He explained that the financial deficit recorded a value of 382.9 million dinars during the first quarter of this year, an increase of 37.1 million from last year.

He pointed out that the balance of government debt, after excluding what is held by the Social Security Investment Fund, amounted to about 30.925 billion dinars until the end of March, or 90.3% of GDP.

With regard to customs duties, Al-Shibli indicated that they increased by 7.2% compared to the same period last year, to reach 59.8 million.

With regard to foreign grants, he explained that they decreased to 10.1 million dinars, compared to 29.4 million dinars during the same period last year, by 19.3 million dinars, a decline of 65.7%.

Al-Shibli stressed that the decrease in grants during the first quarter is not an indication of the volume of grants that will be received by the treasury, as it is known that grants are received by the treasury during the last quarter of each year.

He stressed that the grants allocated in the General Budget Law are committed to and will be fully refunded.