The Ministry of Finance has just released the key figures for the budget execution as of the end of December 2025.
The country shows a budget balance (excluding grants and confiscation revenues) of 8,975 million dinars (MD). This result is more favorable than that of 2024, where the deficit had widened to 10,090 MD.
This deficit of 8.9 billion dinars also proves to be more contained than the forecasts of the Finance Law (LF 2025), which targeted a balance of -10,150 MD.
In terms of weight in the national economy, this deficit now represents 5.2% of GDP, compared to 6.3% at the end of 2024.
This reduction in the deficit is explained by a combination of budgetary factors. Indeed, total budget resources reached 49,699 MD at the end of December 2025, showing growth of 5.7% compared to the previous year.
This progression is largely driven by tax revenues, which amount to 44,749 MD (+7.3%). Furthermore, total budget expenditures stood at 58,470 MD, a contained increase of 3.5% year-on-year.
This progression is largely driven by tax revenues, which amount to 44,749 MD (+7.3%). Furthermore, total budget expenditures stood at 58,470 MD, a contained increase of 3.5% year-on-year.
Despite this overall improvement, certain expenditure items continue to weigh heavily on public finances. Thus, compensation expenditures (wage bill) reached 23,281 MD in 2025, an increase of 4.5% compared to the 22.2 billion in 2024.
Similarly, financing charges (debt interest) rose to 6,458 MD, compared to 6.2 billion the previous year.
As for subsidy expenditures, they remain at a high level, totaling 11,593 MD, including 7.1 billion for fuels and 3.8 billion for basic products.
The report also indicates a slight decrease in the outstanding public debt. The latter represented 82.1% of GDP at the end of December 2025, compared to 84.9% at the end of the 2024 financial year.
To cover the remaining deficit, the State continued to favor the domestic market, with domestic borrowings amounting to 21,819 MD.
