Report: Moroccan Economy Records 4.6% Growth Amid Ongoing Financial and Trade Pressures
The Moroccan economy grew by 4.6% in the second quarter of 2025, compared to 2.9% during the same period last year, driven by a 4.5% increase in non-agricultural activities and a revival of the agricultural sector at 4.7% after a downturn caused by drought. This performance reflects the national economy’s capacity to regain some of its momentum despite international fluctuations and internal pressures.
The budget deficit rose to 24.8 billion dirhams by the end of June 2025, up from 20.4 billion dirhams a year earlier, according to the “Strategy” report published by the research center “BMC Capital Global Research,” indicating increasing pressures on the state’s financial balances and a greater need for public financing.
The trade deficit exacerbated economic pressures, reaching 161.8 billion dirhams in mid-2025, compared to 136.7 billion dirhams a year ago, due to imports growing faster than exports, highlighting the vulnerability of the trade balance amid continued reliance on foreign markets in vital sectors.
The inflation rate saw a slight annual increase of 0.4% in June, after having declined by the same percentage in May, influenced by rising food prices that continued to pressure households’ purchasing power, especially for vulnerable groups. The unemployment rate dropped to 12.8% in the second quarter from 13.1% a year earlier, despite job losses in rural areas due to the effects of drought.
The Casablanca Stock Exchange’s “MAZ” index closed July at 19,634.87 points, marking a monthly increase of 7.31% and an annual rise of 32.91%, reflecting investor optimism about a potential improvement in the business environment.
