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400bn Investment Push
Economist Abderrazak El Hiri said that the differing forecasts for Moroccan economic growth in 2027—3.7% under the government’s assumptions, 3% according to the High Commission for Planning, and 2.9% according to Bank Al-Maghrib—raise questions about the ability of fiscal policy to stimulate domestic demand. He said that planned public investment of 400 billion dirhams, alongside the gradual reform of income tax, could support economic activity, employment and consumption, particularly among low- and middle-income households. However, he cautioned that the impact of these measures could be diminished by rising costs for food, housing, energy and services. He stressed the need to balance stimulating growth with maintaining sustainable public finances.
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