Rabat – Morocco’s ordinary state revenue reached MAD 261 billion ($28.4 billion) by the end of July 2026, up 8.3% compared with the same period last year, according to the General Treasury (TGR).
The treasury attributed the increase mainly to higher tax revenue, while non-tax revenue declined during the period, according to the TGR’s monthly report on public finance for July.
Tax revenue reached MAD 237.1 billion ($25.8 billion), up 12.9% from MAD 209.9 billion a year earlier. Corporate tax revenue increased by 21.8%, while income tax revenue rose by 2%.
Domestic value-added tax revenue also increased by 11.1%, while registration and stamp duties rose by 14.1%.
Customs tax revenue reached MAD 73.1 billion ($8.0 billion) by the end of July, compared with MAD 64.5 billion a year earlier, an increase of 13.3%. The rise was supported by a 14.1% increase in customs duties and a 12.7% increase in VAT collected on imports.
Excise tax revenue on manufactured tobacco also increased, rising by 15.4%.
Meanwhile, non-tax revenue fell by 23.2%, or MAD 7.2 billion ($784 million). The decline was mainly linked to lower transfers from special Treasury accounts to the general budget and a sharp drop in revenue related to debt-service cost reductions.
Revenue from state monopolies increased slightly to MAD 9.48 billion ($1.03 billion), compared with MAD 9.35 billion a year earlier.
After excluding tax refunds, exemptions, and tax adjustments, net ordinary revenue stood at MAD 248.2 billion ($27.0 billion) by the end of July, up 8% from MAD 229.8 billion during the same period in 2025.
The revenue collection rate reached 62.2% of the amount forecast for the year, compared with 65.6% at the end of July 2025.
MWN with MAP
