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Morocco Prepares for Middle East Conflict Fallout: Finance Minister Confident of Action Plan
Morocco’s Finance Minister Nadia Fettah‑Alaoui told BFMTV that the country is aware of the heightened energy risks stemming from the U.S.–Iran escalation in the Middle East. While acknowledging the kingdom’s exposure to global hydrocarbon markets, she highlighted the “shock absorbers” Morocco has built – from foreign‑exchange reserves to a growing green‑energy mix – that will cushion any short‑term price spikes. She also noted that the 2026 budget assumed oil at $65 per barrel, whereas prices have already risen to $85, and reassured that domestic gas consumption remains manageable. Overall, the minister conveyed confidence that Morocco can weather a brief crisis thanks to its prepared action plan.
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Statement to BFMTV on Middle East Tensions
Finance Minister Nadia Fettah‑Alaoui was asked about the economic and financial repercussions for Morocco of the escalating confrontation between the United States and Iran. She expressed sorrow over the crisis, extending solidarity to fellow Arab nations and sympathy for civilian populations.
From a purely economic viewpoint, she reminded listeners that Morocco is fully integrated into the global supply chain: the kingdom imports all of its hydrocarbons. Consequently, any sustained disruption or price surge in the region would automatically affect the national energy bill.
Preparedness and Resilience Measures
The minister emphasized that the government has already begun to test and refine its protective mechanisms for the most vulnerable citizens and for the broader economy.
- Foreign‑exchange reserves provide a financial cushion.
- Increasingly green energy mix reduces dependence on imported oil.
- Proven macro‑economic resilience demonstrated by recent growth patterns.
She added that the gradual diversification of the energy mix will serve as a real‑time test in the coming weeks, stating, "The energy mix is very important; we will see its effectiveness shortly."
Budgetary Impact of Oil Prices
Regarding oil, the minister gave a concrete reference point: "We budgeted oil at $65 per barrel in the 2026 Finance Law, and you know it is already at $85."
This gap, if the conflict endures, could put additional pressure on public finances through higher energy costs and the need for support measures.
Domestic Gas Consumption
On natural gas, she adopted a more reassuring tone, describing it as largely a domestic‑use commodity that remains fully manageable within the public finances. However, she warned against a prolonged heavy‑use scenario, saying, "We hope we will not have to sustain a high consumption level for long."
Bottom‑Line Outlook
In summary, Ms. Fettah‑Alaoui hopes the crisis will be short‑lived, while reaffirming that Morocco is ready with the “necessary action plan” to face any adverse effects.