Morocco’s strong growth momentum is expected to continue in 2026, supported by public and private investment and solid agriculture output, said the International Monetary Fund.
In a statement released Thursday following the conclusion of the Fund’s
Article IV consultation mission to the Kingdom, the IMF said Morocco’s economic growth in 2025, estimated at 4.9 percent, has been boosted by strong agriculture, construction, and services.
“This momentum is expected to continue in 2026, with growth projected at 4.8 percent, supported by public & private investment and solid agriculture output following exceptional rainfall”, underlined the IMF.
inflation averaged 0.8 percent in 2025, reflecting low food inflation, and is projected to gradually rise toward 2 percent by mid-2027, supported by earlier policy rate cuts and strengthening growth momentum.
Morocco’s tax revenues reached 24.6 percent of GDP in 2025, a significant increase over the last two years stemming from recent tax policy reforms and improved revenue administration.
In its statement, the IMF said access to education, health services, and social protection for the most vulnerable continues to improve in Morocco, stressing the need to accelerate ongoing reform strategies in these sectors.
The Fund hailed the more targeted financial and technical assistance to micros, small and medium-sized enterprises (MSMEs), including through the Investment Charter, regional investment centers, the Mohammed VI Investment Fund, and the new charter for MSMEs.
It also welcomed the ongoing implementation the Job Plan 2030, which provides a comprehensive framework to reduce unemployment through modernized active labormarket policies and expanded support for youth without diplomas, and encourages complementary measures to address skills mismatches.
