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The International Monetary Fund (IMF) has praised the resilience of the Moroccan economy, projecting a growth rate of 4.4% in 2026.
In its findings from the Board of Governors during the Article IV review for 2026 and the Flexible Credit Line arrangement with Morocco, the IMF indicated that the real Gross Domestic Product (GDP) is expected to rise by 4.4% this year and 4.5% in 2027, stabilizing at around 4% in the medium term. This growth is supported by both public and private investments in infrastructure.
The report highlighted that the agriculture, construction, public works, and tourism sectors stimulated economic activity in 2025. However, it warned of a temporary rise in inflation in 2026 due to escalating energy prices, anticipating stabilization at around 2% in the medium term.
Additionally, the Fund noted that international reserves would remain sufficient, and the overall budget deficit would align with a gradual reduction in the debt-to-GDP ratio, projected to reach 60.5% by 2031.
Kenji Okamura, the Deputy Managing Director and Acting Chair of the Fund, stated that Morocco continues to meet the criteria for accessing the Flexible Credit Line, underscoring the kingdom’s commitment to robust macroeconomic policies, risk management strategies, augmenting investments in human capital, and implementing structural reforms to foster inclusive growth and job creation.
