Madar (Rabat) - Morocco's Treasury deficit stood at 44.1 billion dirhams at the end of October 2026, compared with 55.5 billion in the same period last year, according to the monthly public finance statistics bulletin of the General Treasury of the Kingdom (TGR), whose figures were reported by Hespress on Friday, November 13, 2026.
According to the same source, the deficit takes into account a surplus of 24 billion dirhams from special Treasury accounts and state services managed autonomously (SEGMA).
Ordinary revenue rose 7.9% to 366.9 billion dirhams, driven by direct taxes (+13.6%), customs duties (+10.9%) and indirect taxes (+9.5%), while non-tax revenue fell 16.3%.
Expenditure issued reached 491.1 billion dirhams, up 6.4%, with operating spending up 10.1% against only 0.1% for investment. Compared with finance law forecasts, the execution rate was 87.4% for ordinary revenue and 67.3% for investment spending.
