Moroccan Cash Hoarding Surges Amid COVID-19 Economic Uncertainty

According to L’Économiste, the current context of the crisis, combined with the uncertainty surrounding the consequences of covid-19, is pushing more and more people to hoard money.

For the daily newspaper, this crisis is causing a drop, or even a loss of income, for a very large number of households. As for investments in passbook accounts, they are also declining, after 10 years of continuous growth. As for the outstanding amount, it has decreased by 1.2%. After a stable month of January, the need for cash is being felt.

It should be noted that the current health crisis, which has led to an economic crisis, has induced a change in household behavior. Thus, the consumption model will evolve in the coming days, with a preference for savings in investment modes.