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The Moroccan government expects to cut its budget deficit to 3% of GDP in 2026, from 3.5% this year, as it continues to pursue fiscal consolidation and structural reforms, finance minister Nadia Fettah Alaoui said.
The government expects to narrow the deficit thanks to tax reforms, while maintaining support for strategic investments and social programs, Alaoui said in parliament while presenting the outlook for the 2026 budget.
Growth is expected to remain stable at 4.5% from this year, she said, citing assumptions including a cereals harvest of 70 million quintals, an average Brent crude oil price of $80 per barrel, a butane gas price of $450 per ton, and an exchange rate of 9.8 dirhams per US dollar.
Inflation is projected to remain stable at 2%, she said.
The government would pursue fiscal discipline with the need to sustain economic recovery and social cohesion, she said, noting that the 2026–2028 budget programming will focus on improving public finance transparency, enhancing the efficiency of public spending, and accelerating the implementation of structural reforms.
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