Morocco projects steady economic growth through 2029

A report from Morocco’s Ministry of Economy and Finance outlines optimistic economic growth projections for the 2027–2029 period. The economy is expected to maintain steady momentum, with a projected GDP growth rate of 4.1% in 2027 and an average of 4.2% during the 2028–2029 period.

Growth is expected to be driven by non-agricultural activities, including a strong performance in the secondary sector and steady growth in the tertiary sector. The agricultural sector is also projected to grow, based on the assumption of stable grain production at approximately 70 million quintals annually. Additionally, household consumption and fixed capital formation are expected to remain key drivers of economic activity.

On the fiscal front, the government aims to balance public finances by gradually reducing the budget deficit to 3% of GDP between 2027 and 2029. The report also targets a reduction in the national debt-to-GDP ratio to 63% by 2029. Strategic priorities for this period include controlling personnel expenditures, optimizing management costs, and improving the efficiency of investment spending.