orocco’s Treasury General has published its monthly public finance bulletin for the end of September: the Treasury deficit stands at 33.3 billion dirhams, against 50.6 billion a year earlier.
The gap comes from a surplus of 23.4 billion from the special Treasury accounts and the autonomously managed state services, which showed a deficit of 2.8 billion at the same point in 2025.
Ordinary revenue reached 337 billion dirhams, up 8.5%. Corporate tax is the engine, with 92.2 billion collected and growth of 22.1%.
Ordinary expenditure rose 10.2% to 308.9 billion. Subsidies remain the most volatile line: 15.6 billion issued in nine months, 56% more than a year earlier, and already 112.7% of the annual allocation voted.
The finance law forecasts a deficit of 109.1 billion for the whole of 2026.
Photo: H24info.
Trésorerie Générale du Royaume - Bulletin mensuel de statistiques des finances publiques, septembre 2026
