As inflation eases and investment grows, including in preparation for co-hosting the 2030 FIFA World Cup, Moroccan banks are benefiting from a strong domestic operating environment.
The economy grew by 4.4% in 2024 and then 4.9% in 2025. At the same time, the banking sector continues to be underpinned by one of Africa's strongest regulatory frameworks, helping Morocco retain its reputation as one of the continent's most stable and sophisticated financial markets.
The central bank, Bank Al-Maghrib, has kept its main benchmark interest rate at 2.25% since the third quarter of 2025, confident that inflation will remain weak at just 0.8% this year despite the global economic impact of the war in the Gulf. It also predicts that inflation will pick up over the next two years, although still staying below the 2% threshold.
Nevertheless, the central bank expects the country's current account deficit to rise to 3.1% this year on the back of higher energy import costs. Yet at the same time it forecasts that government debt as a proportion of GDP will fall from 50.8% in 2024 to 46% by 2027.
Originally published by African Business.