The Moroccan economy has demonstratd resilience, posting positive trends in 2024 despite significant challenges. Recent rainfall has helpd alleviate drought conditions, paving the way for a more favorable outlook for the agricultural sector. According to the World Bank’s latest economic update for Morocco, Prioritizing Reforms to Improve the Business Climate, overall growth is projectd to reach 3.6% in 2025.
In 2024, Morocco’s overall gross domestic product (GDP) growth slowd to 3.2%, impactd by the drought.
However, non-agricultural growth increasd industry email list to an estimatd 3.8%, driven by the revitalization of the industrial sector and the rebound in gross capital formation. With inflation falling below 1%, Bank Al-Maghrib was able to begin easing its monetary policy. Morocco’s external position remains stable, with a moderate current account deficit financed by growing foreign direct investment flows, supported by strong working in a multinational company: advantages and disadvantages investor confidence. Despite spending pressures, the debt-to-GDP ratio is gradually declining.
Significant socioeconomic challenges remain.
The recent inflationary shock has eroded household purchasing power, leading to a decline in confidence indicators. Although urban labor markets have improved, with approximately 162,000 jobs created in 2024, job creation remains a major lithuania phone number challenge. Over the past decade, the working-age population has grown by more than 10%, while employment has grown by only 1.5%. This gap is influenced by the lingering effects of post-pandemic shocks, the delayed impacts of recent reforms, and the low level of female labor force participation.