Total expenditure on the general budget for the year 2024 now amounts to about 425.1 billion dirhams, according to the recent triennial budget programming document (PBT) for the period 2024-2026.
Published by the Ministry of Economy and Finance, the document reveals that the total amount of appropriations programmed under the PBT 2024-2026 is of the order of 425.1 MMDH in 2024, 436.2 MMDH in 2025 and 446 MMDH in 2026, an average annual increase of 2.4% between 2024 and 2026
General budget expenditure follows a similar trend, with an average annual increase of 3.1% for operating expenditure between 2024 and 2026, while investment expenditure remains almost stable for the same period.
Staff spending is expected to increase significantly, from 161.6 MMDH in 2024 to 167.6 MMDH in 2025, to 173.1 MMDH in 2026, reflecting an average annual growth of 3.5% over the period 2024-2026.
This increase is mainly attributed to increases in wages and permanent allowances, part of an average annual trend of 4%. This evolution stems from promotions, grade advancements, the creation of new budget items and measures resulting from social dialogue, says the same source.
Therefore, the predominant social charges, including contributions to pension plans and social security organizations, are expected to follow a similar trajectory with an average annual growth of 4.2% between 2024 and 2026, says the document. These adjustments reflect the dynamics of the labour market and the commitments resulting from social negotiations, testifying to the attention paid to employee well-being in budgetary management.
As for equipment and miscellaneous expenses, these should follow an upward trend of an annual average of 4.4% between 2024 and 2026. This evolution is mainly due to the increase in subsidies and transfers, in particular to strengthen the financial capacities of social sectors such as education, training, and health. This is in line with the implementation of specific strategies, including the new national education roadmap focused on strengthening pedagogical supervision.
The ongoing reforms, in particular those in higher education and vocational training, also contribute to this dynamic, with a revision of the doctoral study system and the implementation of new cities of professions and skills. At the same time, the national health system is strengthened by the commissioning of new hospital structures and the strengthening of the capacities of those already existing.
With regard to common – operating expenses, the appropriations of this chapter entered in the PBT 2024- 2026, are marked by the predominance of expenditure of a social nature, in particular those relating to the coverage of the compensation burden and the support of ongoing reforms. Forecasts indicate loads of the order of 34.82 MMDH in 2024, 32.157 MMDH in 2025, and 33.093 MMDH in 2026.
In addition, the document reveals that in 2024, debt interest charges are expected to increase by 5.4 MMDH, an increase of 17.1% compared to 2023. This growth, affecting domestic (+3.1 MMDH) and external (+2.3 MMDH) debt, is mainly the result of the increase in the outstanding debt and its cost, attributable to the increase in interest rates on domestic and international markets, as a result of the monetary tightenings by the EDF and the ECB.
In 2025 and 2026, growth in interest charges is expected to slow down, reaching +3.6 MM.DH (+9.6%) and +1.3 MM.DH (+3.1%) respectively, the ministry adds. For capital expenditures, the projections are 118,108 MMDH in 2024, 119,351 MMDH in 2025, and 117,151 MMDH in 2026.
With regard to common expenses related to investment, mainly dedicated to transfers to CSTs (Treasury Special Accounts) and EEPs (Establishments and Public Enterprises), the Ministry anticipates a decrease in these expenses, from 36.4 MMDH in 2024 to 33.3 MMDH in 2025, then to 32.5 MMDH.