Morocco’s economy is poised for a robust recovery in 2025, with the European Bank for Reconstruction and Development (EBRD) forecasting a growth rate of 3.6%.
This positive outlook is attributed to a combination of factors, including strong export performance and the resilience of key economic sectors.
According to the EBRD’s latest regional economic outlook, Morocco’s growth will be fueled by declining energy imports, rising remittances, increased tourism revenues, and a surge in automotive exports. The bank notes the solid performance of several sectors, including extractive industries, manufacturing, and construction, which have shown gains despite the impact of drought on agriculture. Growth is expected to moderate slightly to 3.4% in 2026, following an estimated 3% growth in 2024.
Other international institutions offer similar projections. The International Monetary Fund (IMF) predicts a slightly higher growth rate of 3.9% in 2025, driven by an anticipated rebound in agriculture and sustained domestic demand. The IMF also expects inflation to stabilize around 2% and the current account deficit to narrow to approximately 3% of GDP.
The World Bank shares the IMF’s 3.9% growth estimate for 2025, with a projected slowdown to 3.4% in 2026. It highlights Morocco’s potential to outperform the Middle East and North Africa (MENA) regional average of 3.4%, despite the challenges posed by drought.
The African Development Bank (AfDB) projects an average growth rate of 3.8% over 2025-2026, supported by agricultural recovery, strong tourism performance, and increased foreign direct investment. The AfDB also emphasizes the role of infrastructure development related to the 2030 FIFA World Cup, which Morocco will co-host with Spain and Portugal, as a significant driver of economic activity.
MK/ac/sf/lb/abj/APA