The national economy recorded average growth of 4.5% during the 2021–2025 period, compared with 2.4% between 2017 and 2021, according to a document reviewing the government’s performance.
This growth was driven mainly by the positive momentum in non-agricultural activities, whose added value posted an average growth rate of 4.5% during the 2021–2025 period, the document states.
According to the same source, this performance was supported by an exceptional public investment effort amounting to 380 billion dirhams (MAD) in 2026, compared with 230 billion MAD in 2021, as well as by a notable improvement in domestic demand, which recorded an average annual growth rate of 5.2% over the 2021–2025 period.
Moreover, the total number of non-agricultural jobs created between 2021 and 2025 reached 850,000 positions, representing an annual average of 170,000 jobs, compared with 90,000 between 2016 and 2021 and 64,000 between 2011 and 2016. This momentum helped largely offset the annual loss of 105,000 agricultural jobs, mainly due to the effects of drought over the same period.
Regarding inflation, the rate fell from 6.6% in 2022 to 0.8% in 2025, according to data from the High Commission for Planning (HCP).
Meanwhile, the budget deficit is expected to stand at 3% of GDP in 2026, compared with 3.5% in 2025 and 5.5% in 2021. Treasury debt is projected at 65.9% of GDP in 2026, compared with 67.2% in 2025 and 71.4% in 2022.
In terms of external trade, foreign investment revenues reached 56 billion MAD in 2025, compared with 32.5 billion MAD in 2021, while official reserve assets stood at 443.3 billion MAD, covering 5 months and 23 days of imports.
Tourism revenues amounted to 138 billion MAD in 2025, compared with 78.7 billion MAD in 2019, while remittances from Moroccans living abroad reached 122 billion MAD, compared with 93.3 billion MAD in 2021.
As for goods exports, they reached 469 billion MAD in 2025, compared with 284 billion MAD in 2019. The coverage rate for trade in goods and services stood at 82.6% in 2025, compared with 80.3% in 2019.
Regarding the current account deficit, it improved to 1.2% of GDP in 2024, compared with 3.6% in 2022, according to data from the Foreign Exchange Office.
In addition, following its visit to Morocco between January and February 2026, the International Monetary Fund (IMF) praised the momentum and resilience of the Moroccan economy.
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