The Organisation for Economic Co-operation and Development (OECD) survey predicts Morocco’s Gross Domestic Product (GDP) will grow by 3.5% in 2024 and 4.0% in 2025, driven by investment.
September 11, marked the launch of the first OECD Economic Survey of Morocco, the conclusion of its second phase of the OECD-Morocco country program, and the signature of a Memorandum of Understanding to continue supporting Morocco in achieving its economic growth and development objectives.
Attending the launch was Secretary-General Mathias Cormann from OECD, alongside Morocco’s Head of Government Aziz Akhannouch, and Minister of Economy and Finance Nadia Fettah. Cormann praised Morocco’s progress, focusing on productivity, job creation, and the climate transition.
Morocco’s inflation is expected to drop from 6.1% in 2023 to 2.3% in 2024, as global food prices stabilize, the report found.
Another decline was noted in public debt-to-GDP, projected to drop from 69.5% in 2023 to 68.2% by 2025, as Morocco narrows its budget deficit.
The new Investment Charter is boosting private sector investment through better governance and improved business conditions.
Morocco’s openness to trade and foreign direct investment continues to drive growth, but domestic private investment remains low.
Morocco’s climate goals include reducing carbon emissions by 45% by 2030 and achieving net zero by 2050, addressing water scarcity.
The OECD also presented its National Urban Policy Review, offering an action plan for more productive and sustainable cities.
The survey highlights Morocco’s need for more high-quality formal jobs, especially for women and youth, to improve living standards. Vocational training and education reforms are key to equipping Morocco’s young workforce with necessary skills for the labor market.