Morocco’s budget deficit widened to MAD 56.9 billion ($5.8 billion) by the end of August 2026, compared with MAD 54.1 billion a year earlier, according to the General Treasury of the Kingdom (TGR).
The deficit, which reflects the gap between government revenues and spending, includes a MAD 16.8 billion positive balance from Special Treasury Accounts and state-managed autonomous services, the TGR said in its latest public finance bulletin.
Ordinary government revenues rose 5.5% to MAD 286.6 billion, supported by stronger tax receipts. Direct tax revenues increased 12.7%, customs duties rose 8.8%, and indirect taxes grew 8%.
Registration and stamp duties also increased by 12.6%, while non-tax revenues fell sharply, declining 27.4% over the same period.
Government spending under the general budget reached MAD 397.5 billion, up 10.4% year-on-year. Operating expenditure increased 13.2%, while investment spending rose 8.2%.
Budgeted debt-servicing costs increased 3.8%, with principal repayments rising 4.1% to MAD 37.3 billion and interest payments increasing 3.4% to MAD 35 billion.
The figures indicate that government spending continued to grow faster than ordinary revenues, resulting in a wider budget deficit than during the first eight months of 2025.
