Morocco’s Economic Resilience Shines Amid Global Turmoil

In its new quarterly assessment of risks for 160 economies worldwide, Coface notes an international context marked by the rise in corporate bankruptcies, trade tensions and the fragility of several emerging economies. Despite this difficult context, Morocco retains its country risk rating at "B". Although this risk is considered "rather high", it remains the most favorable in North Africa, far ahead of Algeria, Tunisia, Egypt or Libya, comments Coface.

This assessment of Morocco’s country risk is justified by the strength of its economic fabric. However, as it is composed of nearly 90% very small enterprises, most of which operate in the informal sector, the Moroccan economy remains vulnerable to cyclical shocks, analyzes Coface, which adds that the political stability of the kingdom, the control of inflation and the continuity of investments in infrastructure and manufacturing have allowed the country to preserve the confidence of international players.

According to Coface, global growth should reach 2.6% in 2025 and 2.4% in 2026, supported by US domestic demand and investments in artificial intelligence. However, this resilience hides a continuous rise in corporate failures: +4% on average in developed economies, with peaks of +11% in Europe and +12% in Asia-Pacific. The more accommodative monetary policies expected in 2026 could provide some relief, without erasing the fragility of corporate balance sheets.

The prospects are more favorable for Africa, whose growth should stand at 4.1% in 2025 and 4.2% in 2026, driven by the decline in energy and food costs and a weakening of the dollar, which eases the pressure on trade balances. For its part, Morocco, with its policy of trade openness and its breakthrough in sectors such as automotive, aeronautics and renewable energies, maintains its stability in the face of external shocks, consolidating its position among the most resilient economies in Africa.