Morocco’s economy is set to grow by 2.8% this year and 3.6% in 2025, according to the latest projections from the International Monetary Fund (IMF). These estimates were published in the IMF’s updated World Economic Outlook, unveiled during the annual meetings in Washington of the IMF and the World Bank.
The IMF forecasts inflation in Morocco to be moderate, with a rate of 1.7% expected in 2024, rising slightly to 2.3% in 2025. On the employment front, the country’s unemployment rate is projected to remain high at 13.4% this year, but it is expected to improve, decreasing to 12.6% by 2025.
The report also indicates that Morocco’s current account balance will stand at a deficit of -2.0% of GDP in 2024, worsening slightly to -2.3% the following year. Over the longer term, the IMF predicts Morocco’s economic growth will reach 3.4% by 2029, with inflation stabilizing at around 2.0%.
In the broader Middle East and North Africa (MENA) region, the IMF expects growth to average 2.1% in 2024 before surging to 4.0% in 2025. Inflation across the region remains significantly higher than in Morocco, with estimates of 14.8% for 2024 and 11.6% for 2025, highlighting Morocco’s comparatively stable economic environment.
