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Morocco overview


In Morocco we focus on:

  • Realizing Morocco’s entrepreneurial potential, promoting women’s entrepreneurship and increasing finance to small and medium-sized enterprises.
  • Promoting regional economic development and gender inclusion by improving the business environment and supporting equal employment opportunities for men and women in rural areas
  • Supporting the sustainability and improving the efficiency and quality of infrastructure and utility services by the commercialisation of public services and infrastructure
  • Advancing the development of capital markets by broadening the range of financial instruments and promoting innovative financial solutions. 

We continue to cooperate with other IFIs, the EU and bilateral partners to ensure that our operations take full account of their work as well.

The EBRD’s Morocco strategy was approved on 11 February 2015

Joint EBRD-EIB-AfDB Private Sector Development Report: English | French

EBRD 2022 Annual Meeting and Business Forum in Marrakech

Current EBRD forecast for Morocco’s Real GDP Growth in 2023 3.1%

Current EBRD forecast for Morocco’s Real GDP Growth in 2024 3.2%

Morocco’s economy slowed in 2022, with growth of just 1.1 per cent, following a strong rebound of 7.9 per cent in 2021. The agriculture sector contracted because of a severe drought, while non-agricultural growth was 3.1 per cent, mainly driven by tourism and trade. As inflation accelerated to 6.6 per cent in 2022 on average (from 1.4 per cent in 2021), owing to rising food and transport prices, Bank Al-Maghrib raised its policy rate three times by a cumulative 150 basis points to 3 per cent, the first monetary tightening in 14 years. GDP growth is projected to pick up to

3.1 per cent in 2023, as agriculture recovers and inflation moderates, while Morocco’s removal from the Financial Action Task Force’s (FATF) Grey List provides a boost to investor confidence. Growth in 2024 is projected to be in line with pre- pandemic levels (at 3.2 per cent), and progress with reforms could give it an additional boost. However, the country remains vulnerable to increases in hydrocarbon prices, as it imports most of its energy. Global supply-chain disruptions may continue to provide further headwinds to growth, and a worsening of global conditions could affect Morocco through lower demand from Europe and tighter financial conditions.


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