Morocco's High Commission for Planning (HCP) has released its exploratory budget for 2027, forecasting GDP growth of 4.8% in 2026, followed by a slowdown to 3% in 2027. The projections are based on current economic trends and policy assumptions, according to the HCP's official report.
The 4.8% growth estimate for 2026 reflects expected gains in agriculture, services, and industrial output, though the HCP notes that external factors such as global demand and commodity prices could influence outcomes. The deceleration to 3% in 2027 is attributed to base effects and potential normalization of certain sectors.
The exploratory budget serves as a planning tool for the government, outlining macroeconomic targets and fiscal parameters. It does not include specific spending measures but provides a framework for the 2027 finance law.
Economists have welcomed the HCP's cautious approach, noting that the 2026 forecast aligns with post-pandemic recovery trends, while the 2027 projection accounts for structural challenges including water scarcity and global inflation pressures.
