– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Top News
Kenya Set for About $400 Million World Bank Emergency Financing Amid Rising Risks
South Africa Swings to 2.6% Current Account Deficit as Higher Oil Costs Hit Imports
Emerging-Market Private Credit Fundraising Surges to $8.7 Billion in H1 2026
TotalEnergies Makes New Angola Oil Discovery, Expands Exploration Footprint
Egypt’s Annual Urban Consumer Price Inflation Eases to 14.5% in August, Stats Agency Says
Senegal to Put 109 Oil and Gas Blocks on Market as Dakar Seeks New Energy Investors
Angola Moves to Open $18.6 Billion Domestic Bond Market to Foreign Investors
India’s Lohum Begins Lithium Mining in Zimbabwe With First Overseas Shipment
Africa’s Deposits Rise 12% to $156.30 billion as Payment Activity Accelerates, Standard Bank says
Morocco and Guinea Sign 25 Agreements to Deepen Strategic Economic Partnership
Africa50 Targets $20 Billion Infrastructure Portfolio as Funding Gap Widens
Senegal Rejects Restructuring, Plans Debt Reprofiling Under $2.2 Billion IMF Deal
Africa’s Private Credit Market Set for Further Growth as Financing Gap Widens
Mauritius Explores Etihad Partnership as Island Seeks to Expand Aviation Network
DR Congo Tightens Control of Geological Data Amid Critical Minerals Race
SUBSCRIBE
– Business, Finance, Markets & Economic News
Subscribe
– Business, Finance, Markets & Economic News
  • Home
  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech
Copyright 2026 - All Right Reserved
Home » Economy » Morocco’s Budget Deficit Drops to $2.4 Billion as Revenue Grows Faster Than Spending
Economy

Morocco’s Budget Deficit Drops to $2.4 Billion as Revenue Grows Faster Than Spending

by Oluebube Elechi July 27, 2026
written by Oluebube Elechi July 27, 2026
FacebookTwitterLinkedinEmail
51

RABAT, July 27 – Morocco’s budget deficit narrowed to MAD 24 billion ($2.4 billion) by the end of June 2026, compared with MAD 30.8 billion ($3.1 billion) during the same period a year earlier, as stronger government revenues more than offset higher public expenditure.

According to the Ministry of Economy and Finance’s latest Treasury Revenue and Expenditure Situation (SCRT) report, total revenues increased by MAD 30 billion during the first half of the year, exceeding the MAD 23.2 billion rise in government spending and contributing to an improved fiscal balance.

Treasury revenues reached MAD 225.2 billion after accounting for tax refunds, rebates and reimbursements, representing 52% of the revenue target set under the 2026 Finance Law.

Tax receipts remained the government’s primary source of income, rising 11.8% year-on-year to more than MAD 197.7 billion, equivalent to 54% of the annual revenue forecast.

You Might Be Interested In
  • Nigeria’s External Reserves Hit $47 Billion for First Time in Eight Years

Meanwhile, tax refunds, rebates and reimbursements, including amounts allocated to local authorities, increased by nearly MAD 3 billion to MAD 17.3 billion.

Non-tax revenues posted even stronger growth, climbing 55.3% year-on-year to MAD 24.9 billion.

The ministry said these receipts included MAD 7 billion transferred from public institutions and state-owned enterprises, including MAD 4.2 billion from Bank Al-Maghrib and MAD 2.5 billion from the National Agency for Land Conservation, Cadastre and Mapping (ANCFCC).

Additional non-tax revenues were generated through innovative financing mechanisms, which contributed MAD 9.9 billion, while miscellaneous receipts collected by government ministries totalled MAD 6.9 billion.

On the expenditure side, ordinary government spending reached MAD 203.9 billion, representing 53.7% of the annual budget allocation and an increase of 14.7% compared with the first half of 2025.

The rise was driven primarily by higher expenditure on goods and services, which increased 14.9%, while debt interest payments rose 16.3%. Compensation spending also expanded by 10% during the period.

The stronger revenue performance resulted in an ordinary budget surplus of MAD 21.3 billion, up from MAD 17.5 billion recorded during the corresponding period last year.

Investment spending also accelerated, reaching MAD 59.8 billion, a 20.2% increase compared with the first six months of 2025. The ministry said investment expenditure represented 52.1% of the annual allocation under the 2026 Finance Law.

The latest fiscal figures indicate that Morocco continues to strengthen its public finances through improved revenue mobilisation while maintaining elevated investment spending to support economic growth and infrastructure development.

Read Next

  • Botswana Grants Orano Three Uranium Licences as Country Seeks to Diversify Beyond Diamonds

    August 24, 2026
  • IMF Approves Zimbabwe Program as Africa Faces Growth Pressures

    April 17, 2026
  • Uganda Appoints Citibank to Secure Funding for €2.7 billion Standard Gauge Railway Project

    April 16, 2026
  • South Africa Moves Closer to Preferential Trade Access with China

    February 6, 2026
  • Nigeria’s Fiscal Deficit Hits $4 Billion in First Half of 2025

    December 24, 2025

Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

African Economy Inc. Logo

About Us

We are a business and economic intelligence platform delivering in-depth reporting, analysis, and insights on markets, companies and economic developments across Africa.

Our Company

  • AEI Intelligence
  • About
  • Editorial Standard
  • Partnerships
  • Advertise With Us
  • Careers
  • Ownership

News

  • Economy
  • Business
  • Markets
  • Finance
  • Credit Ratings
  • Policy
  • Tech

Useful Links

  • Privacy Policy
  • Terms of Use
  • Closed Captioning Policy
  • Accessibility Statement
  • Personal Information
  • Data Tracking
  • Register New Account

Subscribe Newsletter

Subscribe to our newsletter for trusted insights on Africa’s economies, markets, and business.

©2026 Majons Media Inc. All Rights Reserved.

Facebook Twitter Instagram Linkedin
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
– Business, Finance, Markets & Economic News
  • Economy
  • Business
  • Markets
  • Banking & Finance
  • Energy
  • Tech
  • Policy