Morocco’s economy is expected to maintain solid growth despite global disruptions linked to the Middle East conflict, according to a report released in April by the International Monetary Fund.
The IMF projects Morocco’s economy will grow 4.9% in 2026, matching its 2025 forecast, before slowing slightly to 4.5% in 2027.
The outlook places Morocco well above the broader Middle East and North Africa region, where growth is expected to fall sharply to 1.1% in 2026.
The report says the conflict that began in late February has disrupted global energy and commodity markets.
Oil prices have risen more than 21%, averaging about $82 per barrel, while energy costs have increased roughly 19%, adding pressure on fuel- and food-importing countries, including Morocco.
Despite these pressures, Morocco remains among the more stable economies in the region. The IMF cited ongoing structural reforms and efforts to diversify the economy as key factors supporting resilience.
Inflation in Morocco is expected to remain relatively contained but gradually increase, from 0.8% in 2025 to 1.3% in 2026 and 1.6% in 2027.
Unemployment is also projected to improve steadily, falling from 13% in 2025 to 12.2% in 2026 and 11.3% in 2027.
External accounts remain under pressure. Morocco’s current account deficit is expected to widen to 3.1% of gross domestic product in 2026 before narrowing slightly the following year.
Across the region, the IMF forecasts uneven performance. Egypt is expected to grow 4.2% in 2026, Saudi Arabia around 3.1%, while countries closer to the conflict zone, including Iran and Iraq, are projected to see sharp slowdowns or economic contraction.
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