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Morocco’s economy is projected to grow by 3.6% in 2025 before slightly easing to 3.5% in 2026, according to the World Bank. Favorable weather is expected to boost agriculture, while non-agricultural sectors maintain steady expansion.
Speaking in Rabat on Wednesday at the launch of the World Bank’s latest Morocco Economic Monitoring Report, Senior Economist Javier Diaz Cassou described the growth outlook as «relatively robust» and in line with pre-pandemic trends.
Agricultural GDP is set to rebound in 2025 due to improved rainfall before stabilizing at around 2.6% in the medium term. Meanwhile, non-agricultural GDP is expected to slow slightly due to a base effect following strong expansion in 2024.
Inflation remains contained despite Ramadan-related price pressures, with core inflation and expectations measured by Bank Al-Maghrib confirming overall stability, Diaz Cassou noted.
The current account deficit is expected to widen modestly but remain below historical averages, reflecting a revival in domestic demand.
Fiscal consolidation is set to continue, with the budget deficit narrowing toward pre-pandemic levels, helping public debt decline to between 67% and 68% of GDP.
Morocco’s public sector is playing an increasingly central role in the economy, aligning with the country’s new development model, he added.
Despite positive indicators, challenges remain. The inflationary shock has weighed on household purchasing power, dampening consumer confidence. While urban labor markets are improving—with 162,000 jobs expected to be created in 2024—employment growth has lagged behind population expansion, rising just 1.5% over the past decade compared to a 10% increase in the working-age population.
The World Bank report highlights Morocco’s potential for stronger, more inclusive growth through targeted reforms aimed at improving the business climate and labor market dynamism.
