The High Commission for Planning (HCP) announced that Morocco's national economy is expected to grow by 4.3% in the third quarter of 2025, down from 4.8% and 5.5% recorded in the first and second quarters, respectively. In its report on the economic situation for the second quarter and forecasts for the third and fourth quarters of 2025, the HCP explained that this slowdown is mainly due to a less favorable international environment. According to the same source, the primary sector is expected to see a slight acceleration, while other production sectors are likely to experience a moderation in growth. However, the HCP anticipates a relative recovery in economic activity during the fourth quarter, with growth projected to reach 4.7% year-on-year. The Commission added that this improvement is linked to a more favorable foreign demand outlook, driven by the gradual easing of interest rates expected to support consumption and investment in both Europe and the United States. It further noted that the factors supporting domestic demand during the first three quarters will continue to sustain economic growth, as household consumption benefits from improved purchasing power amid rising public and private sector wages and income tax reductions.
