Morocco 20 billion budget boost gas transport prices 2026

Mustapha Baitas, the government spokesperson, announced the allocation of reserve funds to cushion current economic consequences. Although the exact amount has not been officially communicated, an anonymous source confirmed to Reuters agency the addition of 20 billion dirhams, approximately 2 billion dollars. Lacking refining capacity, the kingdom is hit hard by global energy disruptions and heavily depends on oil, gas and coal imports.

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This budget increase will mainly serve to freeze prices for gas bottles, electricity and public transport. As an indication, Fouzi Lekjaa, the minister in charge of the Budget, evaluated last month the cost of these subsidies at 648 million dirhams per month. In parallel, part of these new capital will cover unforeseen expenses related to winter flooding that hit the north of the country.

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Despite these significant imported inflationary pressures, national macroeconomic prospects remain positive. Abundant rainfall has ended seven years of drought, reviving the agricultural sector and allowing hopes for 5.3% growth this year, compared to 4.6% last year. The government also counts on increased tax revenues to reduce its budget deficit to 3% and lower public debt to 66% of gross domestic product.