Over the past two decades, Morocco has achieved significant economic and social progress due to large public investments and structural reforms, along with measures to ensure macroeconomic stability. High investment efforts and a capital-intensive development model achieved sustained growth, significant improvements toward eradicating extreme poverty, increased life expectancy, greater access to basic public services, and significant public infrastructure development, while falling short of creating sufficient jobs, especially for the young, and reducing geographic and socio-economic inequities. Further, the COVID-19 pandemic is now abruptly pushing the economy into a severe recession, the first one since 1995, and threatening the social and economic gains.