The Moroccan economy has recorded its strongest growth since nearly a decade in 2025, but behind the progress of 4.9% GDP growth appears an important divergence: investment has soared by 16.3%, while household consumption has increased only by 1.2%.
Big projects drive growth
The investment boom is largely driven by big infrastructure projects, including those related to the preparation of the 2030 World Cup.
The construction sector has seen a 6.7% growth rate, and private investments are also showing signs of recovery after the pandemic.
Household spending, on the other hand, is following a very different trajectory. Its growth had reached 4.7% in 2023, before slowing down to 3% in 2024 and only 1.2% in 2025.
Households stuck in slow lane
The consumer’s spending pace has actually slowed down despite the decline of inflation to 0.8% in 2025 and a gradual increase in household confidence.
This slowdown reveals that the economy is still heavily dependent on public investment and big projects, which have not yet translated into comparable growth in household consumption.
Turning point expected
The World Bank expects a gradual rebalancing of the economy. The current investment cycle should mature in the coming years, leaving more space for consumer spending and private sector growth.
