Morocco’s economy is expected to grow by 4.1% in both 2026 and 2027, supported by strong investment, resilient household consumption, and a recovery in agricultural production despite the spillover from the Middle East war, according to American credit rating agency Fitch Solutions.
The forecast is slightly below the estimated 4.6% growth recorded in 2025, but remains well above Morocco’s 10-year average growth rate of 2.6%.
Investment remains the cornerstone of the Moroccan economy, supported by infrastructure projects linked to preparations for the 2030 FIFA World Cup and continued spending by state-owned enterprises.
Morocco’s phosphate giant, OCP Group, is expected to invest between MAD 25 billion and MAD 30 billion annually through 2027 to expand fertilizer production and renewable energy capacity, Fitch Solutions said.
Household consumption is projected to grow by 3.4% in 2026, propelled by improving agricultural conditions and higher rural incomes.
The report also expects agriculture to boost growth after favorable rainfall led to a sharp increase in wheat and barley production.
Despite the positive outlook, Fitch Solutions warned that higher inflation, weaker demand from Europe, delays to investment projects, and a possible return of drought conditions could weigh on growth in the coming years.
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