Morocco expects economic growth of 5% in 2026, supported by enhancements in agricultural, industrial, and service sectors.
The projected economic budget for 2026 indicates that the Moroccan economy is entering a phase of growth reinforcement, bolstered by improvements in several macroeconomic indicators, despite ongoing global uncertainties. The gross domestic product (GDP) is expected to grow by 5% in 2026, up from 4.7% in 2025, thanks to a recovery in the agricultural sector and the continued momentum of non-agricultural activities.
The High Commission for Planning’s report highlights that these expectations depend on an above-average agricultural season for 2025-2026, improved external demand from trading partners, especially in the Eurozone, and a continued decline in the prices of certain raw materials, which alleviates inflationary pressures.
On the global front, economic growth worldwide is anticipated to slow to 2.9% in 2026, compared to 3.2% in 2025, amid rising protectionist tendencies and geopolitical tensions, while global trade growth is expected to stabilize at 2.5%.
In national sectors, the agricultural sector is projected to grow by 10.4%, driven by improved vegetation cover, a recovery in livestock activities, and advancements in the national herd restructuring program, while the fishing sector is expected to see a slight improvement.
The secondary sector is expected to maintain a positive performance of 4.2%, supported by manufacturing industries and the construction and public works sectors. The tertiary sector will continue to grow at 4.3%, with strong contributions from trade, transport, and tourism services.
Domestic demand is likely to remain the main driver of growth, with household consumption expected to rise by 4.1%, and total investment continuing to increase by 8.7%, supported by the implementation of major projects and the activation of the new investment charter.
Conversely, the trade deficit is expected to rise to 21.1% of GDP, despite a rise in exports, while the current account deficit is projected to decrease to 1.9%.
Regarding public finances, regular revenues will continue to trend upward, while a reduction in subsidy expenses and an improvement in the deficit will help stabilize the public debt ratio at around 77.5% of GDP.
The economic budget concludes that these positive prospects are contingent upon continued control over macroeconomic balances, the strengthening of productive investment, and the continuation of structural reforms within a risky international environment.
