King Mohammed VI, accompanied by Crown Prince Moulay El Hassan, welcomed Bank Al-Maghrib Governor Abdellatif Jouahri to the Royal Palace in Tétouan on Monday, where the monarch received the central bank’s 2025 Annual Report on Morocco’s economic, monetary and financial performance. The annual royal audience highlights the close relationship between Morocco’s highest institutions and the country’s central bank, while showcasing the Kingdom’s continued economic resilience and long-term development ambitions.
Morocco Continues Its Economic Momentum
According to the report presented to the King, Morocco recorded 4.9% economic growth in 2025, driven primarily by strong investment, while average inflation remained remarkably low at 0.8%. Bank Al-Maghrib also continued its supportive monetary policy, reducing the benchmark interest rate to 2.25% and maintaining sufficient liquidity for the banking sector while encouraging financing for small businesses.
The report also noted continued improvements in Morocco’s public finances, with the budget deficit falling to 3.5% of GDP, alongside stronger foreign exchange reserves totaling 443 billion dirhams, equivalent to nearly five and a half months of imports.
Building a More Inclusive and Sustainable Morocco
While acknowledging the Kingdom’s positive economic trajectory, Jouahri stressed that future growth should benefit all Moroccans more broadly. He highlighted the importance of creating more jobs, reducing social inequalities, strengthening education and vocational training, encouraging greater private-sector participation and continuing structural reforms to support sustainable development.
The governor also pointed to strategic priorities including accelerating the energy transition, improving water resource management in response to climate change and advancing Morocco’s regional development agenda.
A Symbolic Commemorative Coin
During the audience, Abdellatif Jouahri also presented King Mohammed VI with a solid gold commemorative coin issued by Bank Al-Maghrib to celebrate the first anniversary of « Aid Al Wahda. » The commemorative piece reflects Morocco’s tradition of marking significant national milestones while showcasing the country’s rich numismatic heritage.
Tétouan Remains a Royal and Institutional Landmark
The audience once again placed Tétouan at the heart of Morocco’s institutional life. Frequently hosting official royal engagements, the northern city continues to embody the Kingdom’s blend of history, governance and cultural heritage. For visitors seeking to discover Morocco beyond its iconic tourist destinations, Tétouan offers a unique gateway into the country’s royal traditions, architectural beauty and modern institutional landscape.
