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الصحيفة
Moroccan Economy Faces War-Related Strains
The figures show that the war in the Middle East has had a direct impact on the Moroccan economy. Sales of OCP Group decreased by 7.3% in the first half of 2026, and its operating profits declined by 28.5% due to rising sulfur prices and supply disruptions, despite Morocco’s status as holding the largest phosphate reserves in the world. The phosphate industry relies on imported materials such as sulfur and ammonia. Additionally, Morocco’s imports increased by 15.8%, while the trade deficit rose by 25.4%. The energy bill also surged by 29.1% to 81.2 billion dirhams, driven by higher oil and gas prices, as well as increased shipping and insurance costs. Nonetheless, sectors like tourism continue to experience steady growth, reflecting a limited impact of Middle Eastern tensions on some parts of the economy thus far. However, pressures on fundamental inputs for the Moroccan economy remain ongoing, raising concerns about a continued negative spillover from the war that could affect the national economy.
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