The growth of the Moroccan economy is expected to reach 4.3 % in the third quarter and 4.7% in the fourth quarter 2025, according to the latest economic note from the Office of the High Commissioner for Planning (HCP). This momentum would remain driven by the strength of the secondary branches and tertiary sectors, in a context of controlled inflation under the 2% threshold.

In the second quarter of 2025, the Moroccan economy experienced a increase of 5.5%, its steepest pace since the catch-up phase Post-covid. This increase reflects expansion on a broad basis, benefiting manufacturing and mining industries as well as construction and housing, which accounted for nearly 40% of growth global.

This acceleration was driven by the recovery of exports (+8.5%), domestic demand up by 9.2% and a recovery in investment. Household morale has strengthened, supporting their consumer spending, while the cost of credit and imports of industrial equipment have declined.

At the same time, the strength of the activity has increased reflected in an increase in imports (+15.7%) and a need for financing increased, estimated at 3.2% of quarterly GDP. Tax revenues have increased, but public spending, especially on salaries, grew more rapidly (+10.8%)