The Moroccan economy should grow 3.9 % in 2025, according to forecasts from the African Development Bank (BAD).
This growth should be carried by a dynamic domestic demand, supported investments, an expected improvement in the agricultural campaign but also the vitality of non -agricultural sectors.
However, growth should slowly slow down to 3.7 % in 2026, due to the drop in exports relating to the increase in American customs duties.
Regarding inflation, it is estimated at 2 % in 2025 and 2.3 % in 2026, while the budget deficit would continue to decrease to reach 3.6 % of GDP in 2025 then 3.3 % in 2026, thanks to the increase in tax revenue and the decrease in Butane gas subsidies.
However, the current account deficit should get worse, going to 2.1 % of GDP in 2025 and 2.6 % in 2026, in connection with the increase in imports linked to infrastructure projects.
The AfDB, however, stresses that these prospects remain vulnerable to climatic vagaries and a low external demand, calling to strengthen the management of water resources, to better anticipate climate shocks and to further diversify trade.
