The Finance Bill No. 60.24 for 2025 reveals the Moroccan government’s strong focus on boosting tax resources while increasing public spending and investments. The government aims to reduce the budget deficit to 3.5% of GDP, a decrease of 0.5 percentage points from the previous year.
To achieve this, the government plans to enhance revenue from domestic consumption taxes on alcoholic beverages, beer, and manufactured tobacco, projecting a 14.49% increase in total revenues for 2025, reaching 657.8 billion dirhams.
The bill outlines expected tax revenues from alcohol consumption at 1.19 billion dirhams, from beer at 1.55 billion dirhams, and from manufactured tobacco at 13.7 billion dirhams, bringing the total anticipated revenue from these products to 16.44 billion dirhams in 2025.
The government has opted to rely on stable tax sources, particularly consumption taxes, to ensure consistent funding and avoid disruptions in tax collection. Notably, tobacco taxes are a significant contributor, with 2024 revenue estimated at 12.5 billion dirhams and 13.7 billion dirhams projected for 2025.
In contrast, revenues from the Office Chérifien des Phosphates (OCP), one of Morocco’s primary sources of national wealth, are expected to be only 7.5 billion dirhams for the same year. This disparity, with tobacco tax revenues nearly double those from the OCP, has raised concerns, highlighting a difference of 6.2 billion dirhams.
The 2025 Finance Bill further underscores the government’s reliance on taxes from widely consumed products by increasing projected revenues from alcohol and beer to 2.74 billion dirhams, up from 2.01 billion dirhams for 2024.
Currently under discussion in Parliament, the bill anticipates total tax and non-tax revenues of 368 billion dirhams, marking an 18.47% increase due to rising income from various budget categories.
Taxes account for 80% of these revenues. The government also aims to generate 16.5 billion dirhams from public enterprise profits, distributed among the OCP (7.5 billion dirhams), the National Land Conservation Agency (6 billion dirhams), and Bank Al-Maghrib (3 billion dirhams). Additionally, revenue from privatizations is expected to reach 6 billion dirhams.
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