Morocco: Compensation Expenses Decrease by 19.2% by the End of July 2025
Expenditure Report: A Detailed Overview
As of the end of July 2025, expenditure related to compensation has reached nearly 6.5 billion dirhams (MAD), representing a decrease of 19.2% compared to the same period last year, according to data from the General Treasury of the Kingdom (TGR).
This figure indicates a realization rate of 38% relative to the annual projections outlined in the 2025 Finance Law, the TGR notes in its monthly bulletin of public finance statistics (BMSFP).
In addition, operational expenditures incurred amounted to 195.3 billion MAD, of which 104.1 billion MAD was allocated to salaries and wages, marking an increase of 11.5%.
Material expenditures also saw an 11% rise, reaching 51 billion MAD, while common charges surged by 39.1%, totaling 29 billion MAD.
Finally, the share of the general budget allocated for reimbursements, tax deductions, and refunds has increased by 39.7%, driven largely by a rise in VAT reimbursements domestically (7.81 billion MAD, up from 5.99 billion MAD) and corporate tax refunds (3 billion MAD, compared to 1.69 billion MAD).
