Analysis by Region - Africa - Morocco

Analysis by Region - Africa - Morocco



Real GDP growth in 2023 was 3.2% – a respectable figure in a historical context, and slightly better than our estimate of 3.0%. The figure is slightly flattering as it shows a rebound from low growth in 2022. Based on the momentum apparent in the secondary sector, and the rosy outlook for the tertiary sector as lower inflation encourages spending, we forecast real GDP growth of 2.9% in 2024 and then growth of 3.7% per year from 2025 as structural reforms take effect.


Morocco: Lower inflation frees up consumer spending
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
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