INTO the third year of administration and presenting the Madani government’s fourth budget since taking power in November 2022, Budget 2026, which was presented last Friday, can be said to be modest and achievable in terms of fiscal targets and growth expectations.
However, it fell short in terms of addressing the need to raise the government’s revenue, while fiscal enhancement was driven by lower subsidies, as the government took the opportunity to reduce its development expenditure (DE) and shift that burden to government-linked investment companies (GLICs), government-linked companies (GLCs), and other private sector incentives.
