Morocco’s economy is expected to grow by 3.7% in 2025, up from 3% in 2024, driven by strengthened non-agricultural activities and the sector’s recovery, according to the High Commission for Planning’s (HCP).
In its 2025 exploratory economic budget, HCP said the projections consider a 3.8% increase in taxes on products net of subsidies, which refers to the value of goods and services after accounting for any government subsidies.
The GDP increase is expected to contribute to rising inflation to 2.2% in 2025 after 1.8% a year earlier.
The recent forecasts consider global trends, including the stabilization of commodity prices and a projected 3% increase in global demand for Morocco’s goods in 2025, up from an estimated 1.5% in 2024. Non-agricultural activities are expected to grow by approximately 3.2% in 2025, down from 3.6% in 2024.
The industry sector is also expected to see an increased value added of 3.4% in 2025, motivated by continued strong performance in construction, manufacturing industries, and mining, largely due to anticipated growth in external demand.
Tourism and services’ value added is expected to achieve a 3% increase in 2025, down from 3.4% in 2024, the relatively steady figure reflects tourism momentum in Morocco, as well as robust performance in transportation and commerce sectors due to strengthened domestic demand.
These sectors are also expected to benefit from projected income improvements, driven by wage increases, recovery in agricultural income, and steady remittances from Moroccan expatriates.
Agriculture’s value-added volume is expected to achieve 8.5% growth in 2025, following a 4.6% decline in 2024, assuming a lower average cereal production alongside consolidation in other crops and livestock.