Morocco projects economic growth of 5% in 2026, driven by agriculture and domestic demand

1. What is driving this growth?
2. Macroeconomic indicators and productive structure
3. International context and foreign policy

Morocco's preliminary economic budget for 2026, according to the High Commission for Planning (HCP), indicates that the Moroccan economy will grow by 5% in 2026, which would represent an increase of almost half a percentage point compared to 2025.

If the HCP figures are confirmed, this would be the fourth consecutive year in which Morocco's economic power has increased. If we disregard the data for 2020 and 2021, the years of the pandemic, the Moroccan economy has achieved steady growth of around 3.5% since 2015. Advances in agriculture and trade agreements with the European Union have pushed the Moroccan economy to its highest levels.

This is why good growth is expected in the sector, which, according to projections, will grow by around 10.4% in 2026. This is because production was very good thanks to the management of water reserves and, in addition, both livestock farming and cereal production recovered.

The growth of agriculture is such that the increase forecast for 2026 will be equivalent to 1.1% of total GDP growth, when by 2025 it will barely reach 0.4%. Other activities such as industry and construction are also expected to increase by 4.3%.

What is driving this growth?

Many projects are underway throughout the country, both by the government and private companies, in areas such as tourism, which is improving its figures every year. Sectors such as commerce, hospitality and transport also continue to boom thanks to the increase in foreign investment they are receiving.

By 2026, if all goes according to plan, Morocco's GDP should grow by 6.3%, with low inflation of around 1.3%, slightly less than last year's 1.9%. According to reports issued by the HCP, we could already see growth of 4.2% in the first quarter of 2026.

This institution concludes that the figures for the first quarter of 2026 are due to the investments made in the African Cup of Nations, which has left a net profit of more than $114 million, around €100 million.

Macroeconomic indicators and productive structure

Agriculture, livestock and the automotive sector are positioned as the three pillars of the Moroccan economy for 2026.

Thanks to growing domestic demand, i.e. Moroccans' increasing economic capacity, the Moroccan government is collecting more and more revenue, so investments within the country are supporting the entire industry.

However, there are still issues to be resolved, including youth unemployment. Although the government is increasing support for young people through improvements in educational centres and greater benefits for companies that hire them, there is still a long way to go. In other areas such as health and public services, the government is increasingly focusing resources on the construction of large, modern hospitals.

With all this on the table, the authorities are balancing spending for each sector. But to do so, Rabat's priority is diplomacy. Through foreign policy, Morocco has made great strides in the form of trade agreements on energy, promoting major continental projects.

International context and foreign policy

Morocco's plans also include investment in digital transformation and improving its knowledge of artificial intelligence and telecommunications. The aim is for the Moroccan economy to position itself increasingly well in areas that contribute more and are more resilient to the unstable international context.

Morocco in 2026 is shaping up to be a growing economy, with a mix of growth projections, recovering agriculture, stable prices, and policies that favour investment and global economic integration. All of this points to a pragmatic approach to sustainable development and participation in global cooperation.