Morocco’s budget deficit reached 56.9 billion dirhams in the first eight months of 2026, up from 54.1 billion a year earlier, according to the General Treasury of the Kingdom.
The figure includes a combined surplus of 16.8 billion dirhams from special Treasury accounts and independently managed state services.
Ordinary revenue rose 5.5% to 286.6 billion dirhams. Direct tax receipts increased 12.7%, while indirect taxes grew 8% and customs duties rose 8.8%. Non-tax revenue fell 27.4%, partly offsetting those gains.
General budget expenditure increased 10.4% to 397.5 billion dirhams, including debt principal repayments. Operating expenditure rose 13.2%, investment spending increased 8.2% and budgeted debt charges grew 3.8%.
Principal repayments totaled 37.3 billion dirhams, while interest payments reached 35 billion.
By the end of August, ordinary revenue had reached 68.3% of the annual budget forecast. Ordinary expenditure stood at 72% of its allocation, compared with 57.6% for investment expenditure, the Treasury’s bulletin showed.
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