◆ Morocco Economy · Living Research

Morocco Economy: Living Research

This is Dalil Finance's economic research desk. Instead of a one-off article that ages the day it is published, each page here is a living reference: it tracks one part of the Moroccan economy, is refreshed after every official release, and keeps a dated timeline so the story stays visible over time. Every figure comes from a primary source - HCP, Bank Al-Maghrib, or the Office des Changes - and nothing is estimated.

4 live monitors · all updated 2026-07-24 · sources: HCP, Bank Al-Maghrib, Office des Changes

What "Living Research" means

A normal news article is a snapshot: accurate on the day, stale a month later. A Living Research page is the opposite. It has a fixed subject, a current reading, a running timeline, and a stated update cadence. When new official data lands, we add to it rather than replace it, so a reader can see not just where a number is today but how it got there. Each page also connects to the others: Morocco's trade balance, currency, inflation, and interest rates are one system, and the monitors are built to be read as a chain.

Prices and money
Inflation · HCP
Inflation Monitor
Headline +0.3% YoY · core -0.1% (Jun 2026)
The consumer price index, headline vs core, and why the food-driven headline hides flat underlying prices.
Rates · Bank Al-Maghrib
Rates and Bond Market Monitor
Policy rate 2.25% · 10Y 2.88% (Jul 2026)
The BAM policy rate and the government yield curve, and what their shape says about the economy.
External sector
Trade · Office des Changes
Trade Balance and External Sector Monitor
Deficit 159.1bn MAD, +20.8% YoY (Jan-May 2026)
Imports vs exports, the automotive-over-phosphates shift, and the invisible earnings that fund the gap.
Currency · Bank Al-Maghrib
FX and Reserves Monitor
Reserves 498.2bn MAD, +23% YoY (Jul 2026)
How the managed float and the reserves work, and why the dirham stays stable despite a trade deficit.

Read as a chain: Trade balanceFX and reservesinflationrates and bonds. Each page hands off to the next.

Update calendar

Every monitor states its source and cadence. Publication schedule:

MonitorSourceFrequencyNext expected
InflationHCP (IPC)Monthly~2nd half Aug 2026 (July data)
Trade BalanceOffice des ChangesMonthly~end Aug 2026 (June/H1 data)
FX and ReservesBank Al-MaghribWeekly / monthlyNext BAM reserve update
Rates and BondsBank Al-MaghribQuarterly22 Sep 2026 (BAM board)

How the research is compiled

The rules are the same for every page: figures come only from primary official sources; where a number cannot be verified it is left out, never estimated; timelines grow and are not overwritten; and any changed displayed value is logged publicly. The full method is in the methodology, and every correction the site has ever made is in the corrections log.

Background reading

The monitors track the data; these guides explain the mechanics behind them:

Company research, where the macro picture meets individual listed names:

Official data sources

Start with the Trade Balance Monitor →