DR ‹ › Morocco's economy continues to demonstrate «strong resilience», with growth expected to remain robust in 2026 and over the medium term, driven by public and private investment in infrastructure, the International Monetary Fund (IMF) said. Growth prospects in the Kingdom remain «solid», supported by dynamic domestic factors, according to the IMF Executive Board, which has just concluded its 2026 Article IV consultations and the mid-term review under Morocco's Flexible Credit Line (FCL). In a statement released Monday evening, the IMF projects real GDP growth at 4.4% in 2026, 4.5% in 2027, and around 4% over the medium term, assuming a normalization of agricultural output and continued investment in infrastructure, with greater private sector participation. The Bretton Woods institution noted that agriculture, construction, and tourism drove economic activity in 2025, but warned that inflation is expected to rise temporarily in 2026 from its currently low levels, mainly due to higher energy prices, before stabilizing at around 2% in the medium term. «International reserves are expected to remain adequate. Overall fiscal deficits in 2026 and over the medium term are consistent with a gradual decline in the debt-to-GDP ratio, which is projected to reach 60.5% by 2031», the statement added. IMF Deputy Managing Director and Acting Chair Kenji Okamura said Morocco continues to meet the qualification criteria for the Flexible Credit Line. The Kingdom has «consistently implemented very strong macroeconomic policies and remains committed to maintaining them», he said, adding that Morocco continues to benefit from «very strong economic fundamentals and institutional frameworks». «Amid rising geopolitical tensions and global uncertainty, it is essential to maintain prudent macroeconomic policies, carefully manage fiscal and economic risks, increase investment in human capital, and ensure the effective implementation of structural reforms to support inclusive growth and job creation», he concluded.
