2026 Finance Bill: The Four Major Priorities Set by the Government

According to the orientation note sent by the Head of Government to the ministerial departments, the 2026 Finance Bill (PLF) is based on four major strategic priorities. The first priority focuses on consolidating the emergence of the Kingdom by mobilizing all growth, investment, and reform levers to strengthen economic resilience and national competitiveness. This approach aims to sustainably position Morocco within global value chains, particularly through the development of the Kingdom's global professions and an industrial boost. The second priority is to ensure a balance between economic development and social and spatial justice. To this end, the PLF 2026 plans a new generation of territorial development programs based on local specificities, advanced regionalization, and complementarity among various territorial entities. The goal is to reduce social and spatial disparities by promoting employment, enhancing basic social services, adopting sustainable water resource management, and launching integrated territorial upgrading projects. The third priority of the project aims to strengthen the foundations of the social state. This includes generalizing direct aid, expanding social coverage, facilitating access to housing, and enhancing household purchasing power. The PLF 2026 intends to improve the effectiveness and targeting of public social policies. The fourth priority concerns accelerating structural reforms, particularly the transformation of public administration. This reform involves simplifying procedures, digitizing services, and enhancing proximity to citizens. The PLF is also part of an institutional modernization dynamic aimed at making territories more attractive and improving access to public services. Financially, the PLF 2026 emphasizes strengthening the sustainability of public finances, aiming to maintain macroeconomic balances. The orientation note specifies that the government will continue to control operating expenses while prioritizing investments with significant economic and social impact. Special attention will be given to improving the efficiency of public management through better alignment between mobilized resources and achieved results. Funding for priority projects will rely on a more flexible and diversified strategy, incorporating the valorization of public assets, innovative financing mechanisms, and the expansion of public-private partnerships. In line with these orientations, macroeconomic forecasts for 2026 anticipate a growth rate of around 4.5%, a reduction of the budget deficit to 3% of GDP (down from 3.5% in 2025), and a control of the debt ratio at 65.8% of GDP. This project is part of a dynamic of reform and profound transformation of the national economy, aiming to consolidate Morocco's position as an emerging country and promote balanced and inclusive territorial development.