Morocco public enterprises report 421.6 billion dirham turnover

According to a report accompanying Morocco’s 2027 draft finance law, the country’s public enterprises and state-owned companies reached a turnover of approximately 421.6 billion dirhams in 2025, representing a 16 percent increase from 2024. This growth was largely driven by the financial performance of the OCP Group, which saw its turnover rise from 96.989 billion dirhams in 2024 to 113.943 billion dirhams in 2025. Other contributors to the revenue increase included Royal Air Maroc, the Caisse de Dépôt et de Gestion, and the Tangier Med Agency.

Despite the rise in turnover and a 22 percent improvement in net results, the sector faces significant debt, with financing debts exceeding 388.2 billion dirhams. The energy, minerals, water, and environment sectors accounted for 46 percent of the total turnover in 2025, followed by social sectors (health and education) at 26 percent, infrastructure and transport at 14 percent, and the financial sector at 8 percent.

As of September 2026, Morocco’s public portfolio consists of 274 entities, including 215 public institutions and 59 joint-stock companies. The period between 2025 and 2026 saw various structural changes, including the creation of the National Agency for Child Protection and Morocco 2030, alongside the ongoing implementation of regional health groups and regional multi-service companies for water and electricity distribution.