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The treasury deficit has risen to 9.6 billion dirhams amidst a decline in revenues at the beginning of 2026. According to data released by the Ministry of Economy and Finance, the budget situation recorded an increase in the deficit during January 2026, reaching 9.6 billion dirhams compared to 6.9 billion dirhams during the same period last year.
The ministry attributed this development primarily to a decrease in revenues by 2.7 billion dirhams, alongside a slight increase in expenditures of around 70 million dirhams.
Net revenues amounted to 29.77 billion dirhams, indicating an achievement rate of approximately 7% of the financial law forecasts. Specifically, tax revenues decreased by 9.4%, settling at around 27.9 billion dirhams, while non-tax revenues rose by 19%, exceeding 1.25 billion dirhams.
Regarding regular expenditures, they fell by 22.4% to reach 32.7 billion dirhams, with an achievement rate of 8.6%. This decline is attributed to a 23.6% drop in goods and services expenditures, a 28.8% decrease in subsidy expenditures, contrasted with a significant increase in interest on debt by 42.5%.
These developments resulted in a deficit in the ordinary balance of 2.9 billion dirhams, compared to a deficit of 9.7 billion dirhams a year earlier. Conversely, investment expenditures increased by 15.1% to reach 15 billion dirhams, with an achievement rate of 13% of the budget forecasts for 2026.
Additionally, the treasury’s special accounts recorded a surplus of 8.3 billion dirhams, compared to a surplus of 15.8 billion dirhams during January 2025.
This information is part of the statistical document related to the treasury’s financial burdens and resources, which provides a periodic overview of the execution of the financial law by tracking revenues, expenditures, budget deficits, and financing needs during the concerned period.
