The Moroccan construction, infrastructure and real estate sectors are currently experiencing elevated growth levels that are projected to remain steady over the next several years. In 2015, the construction and infrastructure sector value reached US$ 6 bn, with an projected growth rate of 4.8% in 2016. In addition to accounting for over 6% of the country’s GDP, construction works provide jobs for over 400,000 Moroccans, making it a key sector for continued economic growth within the country.
The Moroccan government’s investment in current and future infrastructure development amounted to an estimated US$ 43.2 bn through 2020, a significant jump from the US$ 9.5 bn budgeted for infrastructure development from the period between 2004 and 2009. Additionally, recent growth has been bolstered by a strong showing from the tourism sector, which has in turn driven demand for construction in the luxury real estate sub-sector. Government investment has also been a prime growth factor for the touristic component of the real estate sector; the Vision 2020 plan calls for US$ 22.6 bn to be invested in tourism infrastructure alone through the year 2020.
Morocco’s economic growth accelerated in the second quarter of 2017, building on the momentum of the opening months of the year. The annual rate of GDP growth expanded to 4.8% in the three months to June, following 4.2% in the previous quarter. The International Monetary Fund confirmed cuts in its outlook for 2017 in the first review of its US$ 3.47 bn precautionary credit line in December 2016. In its April 2017 world economic outlook the fund said growth in 2017 would come in at 4.4% rather than the 4.7% it had forecast in its October 2016 world economic outlook. It also trimmed growth for 2018 and 2019 to 3.9% and 4.1% from 4.2% and 4.5% respectively..