Morocco's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

Morocco's fiscal performance has fluctuated over the decades, reflecting shifts in public spending and economic conditions. The 1990s saw manageable deficits, averaging around -1.8%, with occasional surpluses in the late 1990s, such as 3.2% in 1999, attributed to improved fiscal policies. However, the early 2000s brought larger deficits, peaking at -5.5% in 2005, due to increased public expenditure.

The 2011 Arab Spring and global economic pressures widened deficits to -6.6% in 2012. Fiscal reforms and reduced subsidies brought gradual improvements, but the pandemic in 2020 pushed the deficit to -7.1%. Projections for 2029 indicate a steady narrowing to -3.0%, supported by ongoing fiscal consolidation and economic recovery efforts.