Chris Infotainment

Morocco Reduces Treasury Special Accounts in 2026 Budget Plan Morocco has announced a significant reduction in the number of treasury special accounts as part of its 2026 finance bill. According to official budget documents released this week, the number of these accounts has been cut from 69 to 55, representing a decrease of 14 funds. This move is part of broader efforts to streamline government spending and improve fiscal efficiency. Despite the reduction in the number of accounts, the total allocations for these funds remain substantial, amounting to 154.47 billion dirhams. The Social Protection and Solidarity Fund is the largest recipient, with 36.49 billion dirhams allocated. This is followed by local governments, which receive 57.59 billion dirhams through value-added tax revenue shares. Additionally, a separate regional fund receives 9 billion dirhams. Key Allocations and Development-Oriented Funds Several development-oriented funds continue to absorb a large portion of the...

Rachel Reeves Faces Tough Choices as Budget Black Hole Looms Chancellor Rachel Reeves is preparing to introduce significant tax increases on the wealthy to address a growing £30 billion shortfall in public finances. This move comes as the government looks to avoid increasing borrowing or cutting public spending in the upcoming Autumn budget. Treasury sources have confirmed that the Chancellor will not make major cuts to public services or increase debt to fill the gap. Instead, they are focusing on raising taxes, particularly targeting those with higher incomes. A source close to the Chancellor stated: "She will be fair when asking those to contribute more to rebuild our public services." The statement emphasized a commitment to making tough decisions while protecting working families from additional burdens. The decision to raise taxes is seen as a necessary step to prevent future generations from inheriting unsustainable levels of debt. Officials warned that increasing b...

Rachel Reeves' Bold Moves to Revive Economic Growth Chancellor Rachel Reeves is preparing to unveil a series of significant planning reforms in the lead-up to the upcoming Budget. These changes are aimed at stimulating sluggish economic growth and addressing the growing financial challenges facing the country. The Chancellor is under immense pressure to fill an estimated £30 billion shortfall in public finances before presenting her next tax and spending package on 26 November. By pushing through these new planning changes in Parliament before the Budget, Reeves hopes that the Office for Budget Responsibility (OBR) will recognize their potential to add approximately £3 billion to the economy in the long term. This could help alleviate some of the pressure on her to raise taxes again next month, which is necessary to address the spending gap. However, even if the OBR provides a favorable assessment of the government's growth measures, it is still expected that Reeves will int...

A Global Call to Action on Debt and Development Following a significant moment in the Fourth International Conference on Financing for Development, there is a growing consensus among governments, international financial institutions, and civil-society organisations. They are preparing for action ahead of the United Nations General Assembly (UNGA) in September. This comes after recent reports, including Healthy Debt on a Healthy Planet , the Jubilee Report , and the Report of the UN Secretary-General's Expert Group on Debt , have highlighted the severity and urgency of the intertwined debt and development crises. In 2024, developing countries paid US$25 billion more to external creditors than they received in new disbursements. This means that 3.4 billion people—more than 40% of the world’s population—live in countries that spend more on interest payments than on health or education. The situation has been exacerbated by the global financial system, which is not designed to meet t...