RABAT, July 4 – Standard Chartered expects Morocco’seconomy to grow by 4.5% in 2026, supported by expanding industrial production, a resilient tourism sector, strong domestic consumption and continued investment across strategic industries.
In a research note published on June 30, the London-headquartered lender said Morocco continues to demonstrate solid economic momentum, with manufacturing, tourism and household spending expected to remain the principal drivers of growth. The bank also highlighted ongoing industrial capacity expansion and investment in priority sectors as key factors supporting the country’s economic outlook.
Standard Chartered noted that favourable agricultural conditions could provide additional upside to its forecast, adding that a stronger-than-expected harvest would further boost economic growth.
The forecast comes more than a year after the bank established its representative office in Casablanca, following regulatory approval from Bank Al-Maghrib and the granting of Casablanca Finance City (CFC) status in 2025. The office was officially inaugurated in December the same year.
Commenting on the outlook, Cynthia El Asmar, Chief Executive Officer and Head of Coverage for Standard Chartered Morocco, said “Morocco continues to demonstrate the strength of its economic fundamentals and the effectiveness of its long-term development strategy.”
She added that the country has built “a diversified economy” supported by “an expanding industrial base, growing trade links, and sustained investment in key sectors,” noting that these factors “continue to strengthen Morocco’s attractiveness as an investment destination.”
El Asmar also highlighted Morocco’s strategic position within evolving global supply chains, stating that the country’s “combination of industrial capabilities, connectivity, and investment in strategic sectors” continues to reinforce its role “as a gateway between Asia, Europe, Africa, and the Middle East.”
She added that as international trade and investment patterns continue to evolve, Morocco “is well positioned to capture new opportunities, attract capital, and support private sector growth.”
The bank said Morocco’s geographical location and expanding industrial base are increasingly attracting multinational companies seeking to diversify supply chains and strengthen cross-border trade links between Europe, Sub-Saharan Africa and the Middle East.
When Standard Chartered launched its Casablanca representative office in May 2025, it identified the agro-industrial, automotive, aerospace and renewable energy sectors as priority areas for future business and investment.
The bank’s latest forecast broadly aligns with other institutional projections. Bank Al-Maghrib’s advisory council has projected economic growth of 5.2% for 2026, while data from the High Commission for Planning (HCP) showed the economy expanded by 4.6% during the first quarter of the year.
Speaking during the official inauguration of the Casablanca office in December 2025, Rola Abu Manneh, Chief Executive Officer for the UAE, Middle East and Pakistan, said the bank’s “global network, sector expertise, and financing capabilities” position it to “support Morocco’s ambitious growth agenda.”
Standard Chartered said its Casablanca office will continue to serve as a platform for strengthening partnerships with domestic and international clients while facilitating cross-border trade and investment into one of Africa’s fastest-growing economies.
