diff --git a/matlab/dynare_solve.m b/matlab/dynare_solve.m
index 3bb7ecc03..079bc1429 100644
--- a/matlab/dynare_solve.m
+++ b/matlab/dynare_solve.m
@@ -251,7 +251,7 @@ elseif ismember(options.solve_algo, [2, 12, 4, 14])
     [j1,j2,r,s] = dmperm(fjac);
     JAC = abs(fjac(j1,j2))>0;
     if options.debug
-        disp(['DYNARE_SOLVE (solve_algo=2|4|12|14): number of blocks = ' num2str(length(r))]);
+        disp(['DYNARE_SOLVE (solve_algo=2|4|12|14): number of blocks = ' num2str(length(r)-1)]);
     end
     l = 0;
     fre = false;