Morocco’s economy is forecast to experience steady growth in the coming years, with a projected expansion of 3.9/percent in 2025, followed by a slight slowdown to 3.7/percent in 2026, according to the latest International Monetary Fund (IMF) outlook.
Released during the IMF and World Bank Spring Meetings in Washington, the report reflects a cautiously optimistic perspective on Morocco’s economic trajectory. Key economic indicators, including inflation and unemployment, are expected to show modest improvements, offering a positive outlook despite ongoing global uncertainties.
The country’s unemployment rate, which peaked at 13.3/percent in 2024, is expected to edge down slightly, reaching 13.2/percent in 2025, and further decline to 12.9/percent by 2026. This gradual reduction highlights ongoing efforts to address employment challenges within the Moroccan labor market.
Inflation, which has placed pressure on consumers in recent years, is predicted to stabilize at 2.2/percent in 2025, with a slight increase to 2.3/percent in 2026. This anticipated stability should help mitigate the cost-of-living pressures faced by Moroccan households.
The IMF also noted a modest increase in Morocco’s current account deficit, expected to widen to -2.0/percent in 2025 and -2.2/percent in 2026. While this signals a slight shift, the deficit remains within manageable limits for a developing economy, and does not pose immediate risks to the nation’s financial stability.
In a broader regional context, the Middle East and North Africa (MENA) region is facing a slower recovery than initially anticipated. Growth projections for the region have been revised down from previous estimates, with a forecasted improvement from 1.8/percent in 2024 to 2.6/percent in 2025, and 3.4/percent by 2026.
While global economic uncertainty continues to shape outcomes across the region, Morocco’s economic outlook remains stable. The IMF’s projections suggest the country is on a moderate but steady path, with key economic indicators pointing to gradual progress in the years ahead.