Morocco’s tourism revenues increased significantly during the first four months of 2026. According to the latest figures from the Office of Exchange, travel receipts reached 44.392 billion dirhams by the end of April, compared to 36.612 billion dirhams a year earlier.
Morocco’s economic growth is expected to decline to 4.2% in 2026. The Kingdom is being hit hard by global instability, rising energy prices and currency depreciation , despite inflation being rigorously controlled.
Facing the blockade of the Strait of Hormuz by Iran, Morocco spends 3 billion dirhams each month to subsidize energy. The government is striving to contain the impact of this crisis on public finances.
In the Casablanca-Settat region, powerful real estate developers are working to secretly finance the upcoming election campaigns . In exchange for their financial support, these actors hope to obtain administrative shortcuts and facilities in the urban development sector.
The International Monetary Fund anticipates positive spillovers for the Morocco’s massive investment plan by 2030. Growth should accelerate, provided debt is controlled and budget management of future projects is secured.
A prolonged closure of the Strait of Ormuz directly threatens emerging economies. Morocco is among the countries most exposed to a risk of recession if this geopolitical blockade exceeds the three-month mark.
The Moroccan central bank has revised its growth forecasts upwards for 2026 , now projecting 5.6%. This momentum is based on exceptional climatic conditions and massive investments, while maintaining controlled inflation below 1%.
The rating agency Fitch looks favorably on the budgetary stability displayed in the 2026 finance bill. However, it warns that the many infrastructure projects planned as part of the preparations for the 2030 World Cup could lead to overruns and weaken public finances.
The organization of the 2030 World Cup by Morocco, jointly with Spain and Portugal, will not be enough to absorb the endemic unemployment and revive the kingdom’s economy, said the economist Mohammed Jadri, warning about the risk of public debt and an increase in the unemployment rate after the global football event.
The High Commission for Planning (HCP) published on Wednesday the main points of the 2025 budget. Among other things, we learn that the economic growth of the kingdom should stand at 3.8% this year.
The international rating agency Moody’s Rating confirmed Morocco’s Ba1 rating on Friday, noting that the kingdom’s economic outlook "remains stable".
Fitch Ratings, the American rating agency, has confirmed Morocco’s long-term foreign currency issuer default rating (IDR) at ’BB+’ with a stable outlook.