Analysis Finance Morocco to beat 4% economy growth forecast for 2025 By Pramod Kumar July 28, 2024, 9:18 AM Creative Commons A view of the Old City Market in Morocco. The government is planning to gradually reduce the budget deficit through prudent debt management Morocco’s economy is expected to surpass the government’s medium-term growth forecast of 4 percent next year, finance minister Nadia Fettah Alaoui has said. GDP is projected to reach 4.6 percent in 2025 from 3.3 percent in 2024, driven by economic recovery worldwide, Morocco World News reported quoting the minister. The government had set a growth rate target of 4 percent for the medium term, Alaoui told the parliament. Morocco to get $657m from African Development Bank UAE and Morocco sign Cepa terms to build on $1bn trade Aviation workforce in Morocco to double by 2030 The minister said these projections will however be revised if global growth slows due to geopolitical tensions, particularly in Europe, or if drought hits the agriculture sector in Morocco. As part of its long-term financial stability programme, the government plans to gradually reduce the budget deficit through prudent debt management. Morocco attracted MAD16.1 billion ($1.6 billion) in foreign direct investment through to the end of May 2024, government spokesman Mustapha Baitas said this month. This is believed to be the “second highest level in the national economy’s history”. In May, the African Development Bank launched its €12 billion ($13 billion) five-year strategic roadmap to support Morocco’s economic growth. The strategy prioritises two main areas: promoting inclusive growth through skills development, employment and entrepreneurship; and bolstering economic resilience to external shocks by deploying sustainable infrastructure.
