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Customs revenues : 234 billion MGA in January 2024

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Customs revenues : 234 billion MGA in January 2024

Increase in customs revenues between January and February 2024

According to the official website, the customs services collected 234.4 billion MGA (54 million USD) in revenues for January 2024. The announcement was made on January 25 by the Directorate General of Customs (DGD).

In less than a month, customs revenue has surged by 5 %, reaching a total of 243.3 billion MGA as of February 13, 2024. Of this sum, 165.6 billion MGA (equivalent to 40 million USD) is attributed to non-petroleum products, while 77.8 billion MGA (18 million USD) stems from petroleum products. This revenue is allocated across the three principal departments of the Customs Administration : first to the customs department, followed by the VAT department, and finally to the exit duties department.

In 2022, the Customs Administration achieved its highest revenue since 2005, totaling 3,465.6 billion MGA (equivalent to 80 million USD). Comparatively, 2023 witnessed a slight dip in revenue, totaling 3,403.1 billion MGA (79 million USD).

According to the 2024 budget law, projections indicate a forecast of 4,687 billion MGA (100 million USD). A significant portion of this budget, a quarter to be precise, is designated for taxes on petroleum product imports, with the remainder allocated for non-petroleum product imports.

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