Agadir – Morocco’s budget deficit stood at MAD 56.9 billion ($6.0 billion) by the end of August, compared with MAD 54.1 billion ($5.7 billion) recorded during the same period last year, according to the General Treasury of the Kingdom (TGR).
The latest figures show that state spending continued to grow faster than ordinary revenues during the first eight months of the year.
The regular state revenues reached MAD 286.6 billion ($30.5 billion), representing a 5.5% increase compared with August 2025.
Tax revenues provided much of the increase. Direct tax receipts grew 12.7%, while customs duties increased 8.8%. Indirect tax revenues rose 8%, and registration and stamp duties increased 12.6%.
However, non-tax revenues fell by 27.4% during the same period.
On the spending side, expenditures issued under the General Budget climbed 10.4% to MAD 397.5 billion ($42.3 billion).
Operating expenses recorded the strongest increase, rising 13.2%. Investment expenditure grew 8.2%, while budgeted debt charges increased 3.8%.
The TGR also reported MAD 609.1 billion ($64.7 billion) in expenditure commitments by the end of August, equivalent to a 61% commitment rate. The rate stood at 59% during the same period in 2025.
The issuance rate on commitments reached 87%, compared with 86% a year earlier.
Ordinary expenditure execution stood at 72%, while investment expenditure reached 57.6% of the amount projected for the year.
Customs revenue rises to MAD 69.69 billion
Customs-related revenues reached MAD 69.69 billion ($7.35 billion) by the end of August, marking a 7.1% increase from the first eight months of 2025.
The figure includes customs duties, VAT collected on imports, and the domestic consumption tax on energy products.
Customs duties generated MAD 11.78 billion ($1.25 billion), up 8.8% year-on-year.
Import VAT remained the largest contributor, bringing in MAD 43.32 billion ($4.6 billion), an increase of 6.9%.
Revenue from the domestic consumption tax on energy products reached MAD 14.57 billion ($1.55 billion), rising 6.6%.
Before accounting for refunds, tax relief, and reimbursements, gross customs taxation generated MAD 82.7 billion ($8.8 billion), representing a 7% increase compared with a year earlier.
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