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

Current EBRD forecast for Morocco’s Real GDP Growth in 2018 3.0%

Current EBRD forecast for Morocco’s Real GDP Growth in 2019 4.0%

Growth in Morocco recovered in 2017 to reach 4.0 per cent, from 1.2 per cent in 2016, mostly driven by the rebound in agriculture, while non-agricultural activity remained subdued.

In the non-agriculture sector, Morocco’s industrial strategy of developing high value-added sectors, such as automotive and aeronautics industries, is showing positive
results and is offsetting the more modest growth in traditional sectors such as mining and quarrying. On the demand side, growth has been mainly supported by private consumption, an uptick in exports following higher prices of phosphates.

Growth is expected to slow down in 2018 to 3.0 per cent due to the negative base effect following favourable weather conditions for agriculture in 2017 and to normalise at 4.0 per cent in 2019, supported by the continued recovery in tourist arrivals, an increase in foreign direct investment, the upturn in the euro zone, greater competitiveness from the move to a more flexible exchange rateregime, a rebound in services and manufacturing, stronger export growth notably in automotive and aeronautics industries, and expanded mining capacity.

The sustained grow this predicated on continuing the implementation of reforms to improve the business environment and boost productivity, and diversifying the economy away from agriculture. Downside risks include delays in implementing reform;, possible declines in the prices of phosphates, wheat and vegetables; weak growth in trading partners; and the vulnerability of agricultural activity to weather and price developments.

Morocco in the ebrd's 2017-18 transition report