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Analysis by Region - Africa - Morocco

Publisher Oxford Economics
Published Aug 29, 2025
Length 7 Pages
SKU # OFE20418443

Description

The importance of the agricultural sector to the Moroccan economy was once again in evidence over the first half of the year, as some sorely needed late winter rains improved the cereal harvest, with positive effects on consumer demand. A big infrastructure push also helped. GDP in H1 2025 was 4.7% higher than in the same period in 2024. Our GDP projection is unchanged from our previous forecast round: we forecast growth of 3.5% this year and 3.4% in 2026. We have, however, revised our current account forecast to a deficit equal to 2.0% of GDP in 2025 (previously -1.0%) and 1.1% in 2026 (previously -0.8%).

Table of Contents

7 Pages
Morocco: Stronger demand underpins growth outlook
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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