Morocco’s Q1 2026 Growth Forecast Rises to 4.2% Amid Strong Domestic Drivers

Morocco’s economy slowed to a 4.0 % annualised pace in Q3 2025 after a very dynamic first half of the year, as manufacturing felt the drag of weaker external demand. A robust surge in public‑infrastructure spending, corporate equipment investment and household consumption steadied the outlook, keeping growth above trend. Inflation turned negative for the third consecutive quarter, and the central bank left rates unchanged at 2.25 %. Analysts now project a modest pick‑up to 4.2 % in Q1 2026, driven by a rebound in agriculture and continued strength in services, although external headwinds remain.

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