Follow-Up
The Moroccan government clarified the discrepancies in the announced economic growth rates, affirming that the High Commission for Planning remains the official and recognized source for these indicators and continues to use the same standards for calculating the growth rate.
During a discussion on the draft 2026 Finance Law in the Finance Committee of the House of Representatives, Minister of Economy and Finance Nadia Fettah stated that the growth rate is consistent, but its interpretation and reading may differ between institutions.
The minister explained that the growth rate for 2025 was announced last July at 4.5%, before being revised later to 4.8%. She emphasized that this variation does not reflect a contradiction or conflict. She added that the explanation for the difference is simple, as the growth rate rose to 5.5% in the second quarter of 2025, indicating that the actual results for the first half were better than previous estimates.
Fettah affirmed that the 4.8% figure is the correct number, expecting that the growth rate next year could reach 4.6%, or possibly higher, if investment continues and confidence increases. She noted that foreign investments rose by 44% last August.
She indicated that Morocco aims to secure a larger share of foreign investments, asserting that the signing of a new investment agreement by Renault reflects investors’ confidence in Morocco.
Regarding employment, the minister mentioned that the unemployment rate in Morocco stands at 12.8%, resulting from the loss of approximately 905,000 jobs in the agricultural sector between 2019 and 2024 due to ongoing drought for seven years, while the organized sector contributed to the creation of 202,000 jobs during the first quarter of this year. She added that the number of employees registered with the Social Security Fund increased from 3.3 million in 2023 to 4 million in 2024.
The minister noted that there is a time lag between investment and job creation, as investments take time to yield job opportunities, confirming that the government is working on finding solutions during this gap through various projects and economic initiatives.
Concerning the agricultural sector, Fettah emphasized that the Green Generation Plan has provided subsidies to farmers to cope with drought, mentioning that water scarcity remains the main challenge. She pointed out that the government has turned to technology and desalination as solutions to confront this crisis.
