Morocco's economic growth projected at 5.3% in 2026, driven by government measures and agricultural sector

Morocco's economic growth is projected to reach 5.3% in 2026, supported by proactive government measures and improved agricultural performance, according to Nadia Fettah, Minister of Economy and Finance. She presented these figures during a joint meeting of Parliament's Finance Commissions, which focused on the execution of the 2026 Finance Law, the general framework for drafting the 2027 Finance Bill, and the 2027-2029 triennial budget programming. The Minister noted that the preparation of the 2027 Finance Bill and the 2027-2029 triennial budget programming occurs amid a complex international environment, marked by intensifying geopolitical tensions, including the ongoing conflict in the Middle East and its impact on energy markets and supply chains. The 2027-2029 triennial budget programming is based on continuing major projects and strengthening the social state, with the government forecasting a growth rate of 4.1% in 2027, followed by 4.2% in both 2028 and 2029. These projections are based on assumptions including a cereal harvest of 70 million quintals, an oil price of 70 dollars per barrel over the next three years, a butane gas price of 500 dollars per ton, and an inflation rate around 2%. Regarding the execution of the 2026 Finance Law as of the end of June, ordinary revenues improved by 15.4%, with increases in both tax and non-tax revenues. Inflation has returned to low levels, averaging 0.4% during the first six months of 2026, while core inflation stood at -0.1%