First Independent Mena Newspaper
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, […]
Morocco’s budget deficit widened to 22.9 billion dirhams ($2.3 billion) at the end of May 2025, up from 11.2 billion dirhams a year earlier, the treasury said. The deficit was however offset by a positive balance of 14.1 billion dirhams from special treasury accounts and autonomously managed state services. Total ordinary revenues rose 19.6% year-on-year […]
Morocco’s budget deficit shrunk to 64.4 billion dirhams ($6.4 bln) in 2024, from 74.9 billion dirhams, as a rise in government revenue continued to offset higher spending, the Moroccan treasury said. The deficit eased to 3.9% last year from 4.4% a year earlier, as the government increases its ordinary revenue and tax receipts, it said. […]
Saudi Arabia will give Tunisia $500 million as a soft loan and a grant to help improve its public finances with the national budget suffering a $2-billion deficit, the Saudi state-run news Agency SPA reports. Tunisia is facing an acute economic crisis compounded by the pandemic coupled with a tense domestic political crisis. The North […]
Thanks to an economic recovery and better tax revenue, the Moroccan government reduced its fiscal deficit to 6% of GDP in 2021 from 7% a year earlier, the finance ministry said. The deficit stood at 70.9 billion dirhams, down from 82.3 billion dirhams in 2020, a year in which Morocco imposed a three-month long lockdown […]
Tunisia Wednesday said it succeeded in raising 700 million euros on the financial bond market with an interest rate of 6.37 per cent as it sought to borrow money to cover its 2019 fiscal budget deficit. The ministry of finance in a statement said the North African country will reimburse the bond over seven years. […]
The Algerian government has resorted again to the printing press to inject in the market over 4,000 billion dinars, the equivalent of 20% of the country’s GDP, to deal with the 2018 budget deficit. The situation is likely to get worse in 2019, as the outlook for oil prices is rather pessimistic. Since 2014, economic […]
The health of Algeria’s currency, the dinar, has always been measured against oil prices. The end of the era of expensive oil in late 2014 has sent the dinar dwindling in value as Algeria continues to squander its oil mantra avoiding painful reforms to diversify its economy. Since the beginning of this year, the dinar […]
Battered by the oil price slump, Algeria will abolish gasoline subsidies in 2019 as it continues to implement time-buying measures, including import restrictions and money printing. Finance Minister Abderrahmane Raouia confirmed the news to reporters saying that his government plans to undertake a subsidy reform in a bid to reduce the soaring budget deficit as […]
Reduction of subsidies for basic materials is underway in Tunisia although the government is being mindful to incite protests. An economic dialogue has been organized to ease its implementation but some opposition parties have decided to boycott it. The government believes that cutting subsidies is necessary to reduce the budget deficit. Trade Minister Najla Harouch […]