The Fonds monétaire international (IMF) has confirmed that Morocco’s economy continues to demonstrate strong resilience despite global uncertainties and geopolitical tensions. The institution highlighted that growth prospects remain positive in the coming years, supported by public and private investment, particularly in infrastructure.
According to the IMF’s conclusions following the 2026 Article IV consultations and the review of the Flexible Credit Line, Morocco’s economic growth is expected to reach 4.4% in 2026 and 4.5% in 2027, before stabilizing at around 4% over the medium term. These projections are based on a normalization of agricultural production and sustained investment momentum.
The report also noted that key sectors such as agriculture, construction, and tourism significantly boosted economic activity in 2025. However, inflation is expected to rise temporarily in 2026, mainly due to higher energy prices, before stabilizing at around 2% in the medium term.
Regarding macroeconomic balances, Morocco’s international reserves are projected to remain at comfortable levels, while budget deficits are expected to stay under control. This should allow for a gradual reduction in the public debt ratio to about 60.5% of GDP by 2031.
For his part, Kenji Okamura, Deputy Managing Director of the IMF, stated that Morocco continues to implement sound and robust economic policies, enabling it to maintain financial stability and strengthen its resilience to external shocks.
