Morocco’s economic growth is expected to reach 4.4 percent in 2026 and 4.5 percent in 2027, supported by strong agriculture output and public infrastructure investment, according to IMF report released Monday after completing the Mid-Term Review under the Flexible Credit Line Arrangement (FCL).
The scaling up of public investment in the country offers opportunities for stronger growth and job creation provided risks are well managed and human capital is strengthened, said the International Monetary Fund, noting that continued revenue performance together with reprioritization of spending would create space for priority social spending and accelerate the rebuilding of fiscal buffers.
In 2025, Morocco’s growth accelerated to an estimated 4.9 percent, driven by a rebound in agricultural output and a surge in large-scale infrastructure projects.
According to the Fund’s projections, Morocco’s growth outlook remains strong, supported by robust domestic drivers. However, the growth outlook in the near term is affected by the ongoing conflict in the Middle East, resulting in disruptions to global commodity markets and weaker global demand amid heightened global uncertainty.
IMF Deputy Managing Director Kenji Okamura said : “The Moroccan economy continued to demonstrate strong resilience. Agriculture, construction, and tourism boosted economic activity in 2025.”
He affirmed that the Kingdom continues to meet the qualification criteria for the Flexible Credit Line arrangement, highlighting the country’s sustained track record of implementing very strong macroeconomic policies and commitment to maintaining such policies in the future.
In 2025, the IMF approved a $ 4.5 billion FCL for Morocco to enhance the country’s resilience to external shocks. The precautionary arrangement provides Morocco buffers and insurance in highly uncertain external environment.
