State Ordinary Revenue Reaches 261 Billion Dirhams

Morocco's ordinary state revenue saw a notable increase, reaching 261 billion dirhams by the end of July 2026. This figure represents an 8.3% rise compared to the revenue collected by the same time in 2025, according to the General Treasury of the Kingdom.

The positive development is primarily fueled by a significant increase in tax revenues. Customs duties rose by 13.3%, and domestic taxes climbed by 12.8%. These gains offset a considerable decrease of 23.2% in non-tax revenues. The overall execution rate for revenue collection stood at 62.2%, slightly lower than the 65.6% recorded in the previous year.

Total tax revenues amounted to 237.1 billion dirhams, a 12.9% increase from the 209.9 billion dirhams collected by the end of July 2025. This surge was driven by a 21.8% rise in corporate tax, a 2% increase in income tax, an 11.1% jump in domestic value-added tax (VAT), and a 14.1% increase in registration and stamp duties.

Customs tax revenues specifically reached 73.057 billion dirhams by the end of July 2026, up from 64.483 billion dirhams in the prior year. This increase was bolstered by a 14.1% rise in customs duties and a 12.7% increase in VAT on imports. Additionally, excise taxes on manufactured tobacco saw a 15.4% rise.

Conversely, non-tax revenues experienced a significant decline of 23.2%, translating to a reduction of 7.219 billion dirhams. This decrease was mainly due to lower transfers from special treasury accounts to the general budget and reduced revenues from debt expense relief. However, revenues from monopolies saw a slight increase, rising to 9.480 billion dirhams from 9.346 billion dirhams.

Net ordinary revenues, calculated after deducting refunds, exemptions, and tax adjustments, reached 248.2 billion dirhams by the end of July 2026, an 8% increase from the 229.8 billion dirhams recorded in the same period of the previous year.