Morocco enters 2026 at a decisive juncture for sustainable growth, with multiple strategic projects and key deadlines expected throughout the year as the kingdom consolidates previous achievements. The economic outlook appears encouraging despite international uncertainties that marked 2025.
Morocco’s economy demonstrated resilience in 2025 against challenging international conditions, including European economic slowdown and persistent geopolitical tensions. The kingdom recorded growth estimated between 3.5% and 4%, supported by partial agricultural sector recovery and solid non-agricultural activities. Inflation, which had raised concerns in previous years, returned to comfortable levels, enabling Bank Al-Maghrib to maintain accommodative monetary policy supporting both stability and investment.
Bank Al-Maghrib Governor Abdellatif Jouahri emphasized firm commitments despite electoral calendar concerns about budgetary relaxation. The budget deficit must remain below 3.5% of GDP with public debt under 65%. The IMF’s 3.5-billion-dollar flexible credit line provides significant financial maneuvering room, mobilizable without additional conditions. Expected reforms include financial law modernization under Fouzi Lekjaa’s responsibility, with clear objectives: strengthening budgetary transparency, accelerating public enterprise reform, and improving judicial system efficiency.
Unemployment remains the country’s principal challenge despite budgetary efforts and social protection policy development. The labor market struggles absorbing growth, particularly for youth and women. Authorities continue deploying the employment roadmap while activating new mechanisms including professional training plans. Inclusion Minister Youness Sekkouri stated this program will offer diplomas in nearly 200 trades, benefiting approximately 17,000 rural youth.
Infrastructure represents another central development strategy axis. The second semester opening of Nador West Med deep-water port will mark a commercial and export turning point, particularly for green hydrogen. Guelmim Oued Noun region will host Morocco’s first industrial green hydrogen pilot production unit, positioning the kingdom as a regional clean technology hub. New university hospital centers will contribute to improved nationwide health services.
