November 2025 North Africa Macro Outlook

Executive summary

North African governments kept the spotlight on infrastructure, energy and agriculture through October, signalling a policy push to lift productivity and export capacity. In Egypt, the Suez Canal Economic Zone secured a long-term EGP30 billion ($635.1 million) facility from CIB to finance upgrades to ports and industrial platforms. Algeria set out a five-year energy spending plan of about $60 billion for 2025 to 2029, weighted toward upstream projects and complemented by new partnerships, such as a $5.4 billion production-sharing deal with Saudi Arabia’s Midad Energy. Tunisia moved ahead on utility-scale renewables, with the EBRD assessing up to €19 million ($21.8 million) in senior debt for Qair’s 100 MW Gafsa solar PV project. Morocco and Russia signed a new four-year maritime fisheries agreement, keeping access to Atlantic fishing grounds in focus while Rabat also channels investment into agri-export value chains.