Morocco’s economic growth is expected to reach 4.4% in 2025 before easing slightly to 4.0% in 2026, according to the 2026 Exploratory Economic Budget published by the High Commission for Planning (HCP).
The fragmentation of international trade and persistent uncertainty are likely to weigh on global trade in goods and services, limiting the recovery of foreign demand for Moroccan exports», the report warns.
According to the same report, growth in the agricultural sector is projected at 4.7% in 2025 and 3.3% in 2026, while the non-agricultural sector is expected to expand by 4.3% in 2025 and 4.0% in 2026.
The current account deficit is forecast to reach 1.8% of GDP in 2025 and 1.9% in 2026. The budget deficit is expected to stand at 3.6% of GDP in 2025, narrowing to 3.4% in 2026.
Meanwhile, total public debt is projected to decline slightly from 79.2% of GDP in 2025 to 78.9% in 2026.
