Morocco\u2019s financial system remained resilient in 2025 despite ongoing global uncertainty, supported by stronger economic growth, stable inflation, solid banking performance, and continued fiscal consolidation, according to the Systemic Risk Coordination and Monitoring Committee.<\/p>\n
The committee, speaking after its twenty third meeting in a statement released by Bank Al-Maghrib, said the Moroccan financial system continues to benefit from strong fundamentals and comfortable prudential buffers.<\/p>\n
Morocco\u2019s economy recorded faster growth in 2025, reaching 4.9% compared with 4.4% in 2024. The committee attributed this performance to favorable weather conditions and robust activity in non agricultural sectors.<\/p>\n
According to Bank Al-Maghrib projections, economic growth is expected to rise further to 5.2% in 2026 before slowing to 3.1% in 2027, based on assumptions of an average cereal harvest.<\/p>\n
Inflation remained contained at 0.8% in 2025. Forecasts indicate a gradual increase to 1.5% in 2026 and 2.1% in 2027. The current account deficit is expected to widen temporarily before narrowing again in 2027.<\/p>\n
Public finances continue to improve<\/strong><\/p>\n The committee highlighted ongoing fiscal consolidation efforts. Morocco\u2019s budget deficit narrowed to 3.5% of gross domestic product in 2025 and is projected to stabilize at 3.4% during the following two years.<\/p>\n The Treasury debt ratio is also expected to decline gradually, reaching 65.1% of gross domestic product by 2027.<\/p>\n Banking and insurance sectors post strong results<\/strong><\/p>\n The banking sector maintained positive momentum in 2025, with credit to the non financial sector increasing by 6.5%.<\/p>\n The insurance industry also reported strong growth. Total premiums rose by 7.5% to MAD 63.2 billion during 2025, while net profit increased by 21.4% to MAD 5.3 billion.<\/p>\n The sector\u2019s return on equity reached 11.1%, marking its highest level in ten years.<\/p>\n Investment portfolios also benefited from favorable market conditions. Unrealized investment gains climbed to a record MAD 62.5 billion, supported by strong stock market performance following two consecutive years of gains in the MASI index of the Casablanca Stock Exchange.<\/p>\n Pension reform remains a key challenge<\/strong><\/p>\n Despite the positive outlook across most financial indicators, the committee warned that public sector pension schemes continue to face structural imbalances.<\/p>\n It noted that recent improvements linked to salary increases introduced under the April 2024 social dialogue agreement have not resolved underlying challenges. The committee reiterated the need for comprehensive pension reform to ensure the long term sustainability of Morocco\u2019s retirement system.<\/p>\n","protected":false},"excerpt":{"rendered":" Morocco\u2019s financial system remained resilient in 2025 despite ongoing global uncertainty, supported by stronger economic…<\/p>\n","protected":false},"author":1,"featured_media":2779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[928,1379,2044,2813,2814],"class_list":["post-2778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie","tag-bank-al-maghrib","tag-banking-sector","tag-economic-growth","tag-morocco-financial-system","tag-pension-reform"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/posts\/2778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/comments?post=2778"}],"version-history":[{"count":1,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/posts\/2778\/revisions"}],"predecessor-version":[{"id":2780,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/posts\/2778\/revisions\/2780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/media\/2779"}],"wp:attachment":[{"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/media?parent=2778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/categories?post=2778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zawaya24.com\/en\/wp-json\/wp\/v2\/tags?post=2778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}