Morocco · Country watch

Energy Strategy Shift, Tax Dependency Concerns

Morocco plans a new energy strategy amid rising prices, while tax dependency raises fiscal concerns.

Florent Kalfon · 4 November 2026 · 10 articles read

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Business conditions in Morocco are mixed. A new energy strategy aims to enhance market competition, while fiscal concerns arise from tax dependency. These developments affect energy and finance sectors, with potential changes in market dynamics.

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In this briefing Marogest · Ministry of Finance (Morocco) · Charafat Afailal · Ministry of Energy, Mines and Sustainable Development

Regulation

Finance
Public sector

Morocco's tax revenue heavily reliant on corporate tax

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Morocco's corporate tax revenue has become a major pillar of the state's income, according to Marogest. Since 2021, corporate tax revenue has increased 2.8 times, reaching 124.8 billion MAD in the 2027 finance bill, representing nearly 30% of fiscal revenues. This growing dependency makes the budget more vulnerable to economic fluctuations, Telquel reports. The government is under pressure to diversify its revenue sources to mitigate risks associated with economic downturns.

Impact Finance sector stakeholders and policymakers face increased pressure to diversify revenue streams to reduce fiscal vulnerability.

Sources: Telquel ↗

Markets

Manufacturing
Retail

Industrial sales rise despite stagnant production

Morocco's industrial sector experienced stagnant production in September, but sales increased, particularly in the chemical, mechanical, and metallurgical industries, La Vie Eco reports. Sales grew both locally and internationally, although the agro-food and textile sectors saw declines. The mixed performance highlights varying demand across sectors, with some industries benefiting from increased market activity.

Impact Manufacturers and retailers in chemical and metallurgical sectors benefit from increased sales, while agro-food and textile sectors face challenges.

Sources: La Vie Eco ↗

Politics

Energy
Public sector

Minister Afailal calls for new energy strategy

Charafat Afailal, Morocco's Minister of Energy, Mines, and Sustainable Development, has called for a new national energy strategy to enhance competition in the fuel market. This announcement comes amid rising energy prices and challenges in securing energy supplies. Afailal addressed the issue during a parliamentary committee meeting on Wednesday, emphasizing the need to strengthen Morocco's energy sovereignty. The government is aware of the implications of current energy policies and is considering strategic changes to address them, according to Alyaoum24.

Impact Energy companies and investors in Morocco face potential changes in market dynamics as the government seeks to enhance competition and energy security.

Sources: Alyaoum24 ↗

Nothing significant reported today in Disruption · Internal tension · Safety & health · Companies · Trade.