Coface Confirms Its Confidence in the Moroccan Economy and Maintains Positive Outlooks
The international credit insurance group Coface has reaffirmed its positive assessment of Morocco, highlighting the Kingdom’s ability to maintain its economic and financial stability despite a global context characterized by geopolitical tensions and a slowdown in growth in several major economies.
In its evaluation for 2026, Coface retains Morocco’s country risk rating of “B” and confirms an “A4” rating for the business climate, asserting that the Moroccan economy continues to demonstrate resilience due to ongoing reforms and the continuation of major investment projects.
The report emphasizes investment dynamics as one of the key drivers of growth, propelled by significant projects in infrastructure, transportation, and energy, as well as preparations for the 2030 World Cup, which are accelerating the realization of numerous key construction sites.
Coface also highlights investments aimed at modernizing transport networks, expanding airport and sports infrastructure, and economically developing the southern provinces through the establishment of new industrial and logistics zones designed to enhance their appeal.
Regarding public finances, the organization believes the budgetary situation of the Kingdom continues to improve gradually, despite increased spending related to social reforms and public investments. This evolution is supported by the growth in tax revenues, a consequence of reforms implemented in recent years.
According to the report, this increase in revenue funds measures to support purchasing power, salary increases in the public sector, and bolstered budgets for health and education, while ensuring the sustainability of public finances.
Coface also commends the monetary policy conducted by Bank Al-Maghrib, stating that it has helped contain inflationary pressures and maintain price stability while enabling Morocco to benefit from preventive financing mechanisms offered by international financial institutions.
In terms of foreign trade, the report notes that the Moroccan economy continues to adapt to the slowdown in demand from certain European markets, thanks in part to the strong performance of the services sector.
Tourism remains one of the primary supports for the national economy, with record levels of visitors and revenue, while remittances from Moroccans living abroad continue to bolster foreign exchange reserves and the country’s external position.
Thanks to these various factors, Morocco maintains a comfortable level of foreign exchange reserves, reinforcing its ability to withstand external shocks and preserve its financial stability.
Looking ahead to the coming years, Coface anticipates the continuation of this economic momentum, supported by the implementation of major strategic projects and the strengthening of the Kingdom’s position as a regional investment and trade hub between Africa and Europe.
Finally, the report highlights Morocco’s growing influence on the African continent through the expansion of its banking and financial groups, the development of international partnerships, and the ongoing pursuit of structural projects aimed at enhancing its role as a regional economic hub.
