The Organization for Economic Cooperation and Development (OECD) forecasts an acceleration in Morocco’s economic growth, with a rate of 3.5% in 2024, followed by 4% in 2025. These positive prospects are supported by an increase in domestic demand, a recovery in industrial exports, and targeted public investments, particularly in strategic sectors such as automobiles, fertilizers, and aeronautics.
The gradual reduction of energy and food subsidies, combined with a tight monetary policy, is helping to control inflation, which is expected to fall to 2.3% in 2024. At the same time, the tax reforms undertaken aim to broaden the tax base and reduce the budget deficit to 4% of GDP by 2024, with a view to reaching 3% by 2026.
However, risks remain, including the prolonged impact of drought on agricultural production and rural employment, as well as uncertainties related to European markets. In response, the government implements support programs, such as housing assistance and reconstruction initiatives after natural disasters, to stimulate investment and consumption.
The OECD highlights the importance of improving productivity and pursuing economic reforms, particularly in the digital transition and sustainable management of water resources. The modernization of the tax system, the development of local infrastructure, and the promotion of responsible investments are also among the recommendations to strengthen Morocco’s economic resilience.
These projections highlight the need for Morocco to maintain a balance between economic growth, social inclusion and environmental sustainability, while continuing to diversify its economy and attract foreign investment.
