Economic Growth and Structural Changes in Morocco
In a televised address marking the 27th anniversary of his ascension to the throne, King Mohammed VI of Morocco emphasized the nation's stability and economic development. Speaking from Tétouan, a city in northern Morocco, the monarch projected an impressive economic growth rate of approximately 4.9% for the year 2025, indicating that a similar performance is expected for the ongoing year 2026. A significant focus of the address was on the transformations within Morocco's economic structure, particularly the automotive and aerospace industries, which now account for over 40% of the nation’s total exports. This shift has seen these sectors surpass the traditionally dominant phosphates industry as the key driver of Morocco's export economy. Currently, Morocco boasts an annual production capacity of around one million vehicles, establishing itself as Africa's leading automobile exporter.
Furthermore, King Mohammed VI highlighted the expansion of manufacturing sites dedicated to aircraft engines and landing gear systems, as well as initiatives aimed at producing batteries for electric vehicles. Under the 'Morocco Green Hydrogen' program, initial approvals for large-scale projects have already been granted. In the food and pharmaceutical sectors, domestic production now meets nearly 80% of the national demand, showcasing a robust local industry.
Tourism Growth and Financial Sector Initiatives
The tourism sector has also seen remarkable growth, with the kingdom welcoming nearly 20 million visitors in 2025, including a significant number of Moroccans living abroad. To support upcoming projects and infrastructure initiatives, King Mohammed VI called for enhanced engagement from the national financial sector. He urged banks and financial service providers to improve access to credit for small and medium-sized enterprises (SMEs) and to channel domestic savings into investments focused on innovation, industrialization, and export growth.
Looking ahead to the forthcoming parliamentary elections and the subsequent formation of a new government, the King acknowledged that the progress achieved is the result of long-term decisions. He expressed a desire for the upcoming governmental term to usher in a new phase of development that builds upon past achievements and continues structural reforms, ensuring sustainable growth for Morocco's economy.
As reported by maghreb-post.de.
