The General Treasury of the Kingdom announced that the budget deficit reached 54.1 billion dirhams by the end of August 2025, compared to 32.9 billion dirhams during the same period in 2024. This deficit includes a negative balance of 2.5 billion dirhams in special treasury accounts and a negative balance of 1.4 billion dirhams in accounts for state-managed facilities.
Total ordinary revenues increased by 18.7 percent to reach 271.7 billion dirhams, while executed ordinary expenditures amounted to 252 billion dirhams, resulting in an ordinary surplus of 19.7 billion dirhams. This increase in revenues is attributed to a rise in direct taxes, customs duties, indirect taxes, registration fees, stamps, and non-tax revenues.
Conversely, general budget expenditures reached 360.2 billion dirhams by the end of August, marking an increase of 6.7 percent compared to the same period last year. This is due to higher operating expenses and investment costs, alongside a decrease in budgetary debt costs.
Debt service reached 33.8 billion dirhams, resulting from an increase in domestic debt interest to 27.6 billion dirhams, while interest on external debt decreased to 6.2 billion dirhams.
On another note, expenditure commitments reached 574.8 billion dirhams, with a commitment rate of 59 percent compared to 63 percent during the same period in 2024, while the performance rate on commitments was 86 percent.
Revenues from special treasury accounts amounted to 132.7 billion dirhams, of which 20.5 billion dirhams were transferred from the state budget, while expenditures totaled 135.2 billion dirhams, including 4 billion dirhams allocated for tax refunds and compensation.
State-managed facilities generated revenues of 2.07 billion dirhams, an increase of 30.1 percent, while their expenditures reached 975 million dirhams.
Given a financing need of 75.6 billion dirhams, and with positive cash flows from external financing reaching 25.5 billion dirhams, the treasury resorted to internal financing to cover 50.2 billion dirhams.
