Morocco's economic growth to slow to 4% in 2026, statistics agency says

Morocco's economic growth is likely to slow down to 4% next year from 4.4% expected this year, the official statistics agency HCP said on Tuesday, citing global trade uncertainties.

The forecast was based on assumptions of an average wheat harvest and a drop in foreign demand for Moroccan goods, the statistics agency said in a report.

"The fragmentation of international trade and persistent uncertainties are expected to weigh on the growth of trade in goods and services, thereby limiting the recovery of foreign demand directed at Morocco," it said.

Domestic demand continues to drive imports, contributing to the widening of the current account deficit seen at 1.9% of gross domestic product in 2026, up from 1.8% in 2025, the statistics agency said.

The fiscal deficit would narrow to 3.4% of GDP in 2026, from 3.6% this year, as higher tax revenue offset increased government spending, it said.