Morocco’s Cost of Living Crisis Erodes Household Confidence, Survey Shows

46.2% of Moroccan households report a deterioration in their standard of living over the past 12 months. 32.9%, on the other hand, say they have maintained the same level. As for the 20.8%, they announce an improvement.

Regarding the outlook for the next 12 months, 32% of households hope for an improvement in their standard of living while 27.3% fear a deterioration. Maintaining the same level is expected by 40.6%.

In the second quarter of this year, 83% against 6.1% of households expect an increase in unemployment over the next 12 months. 61.4% of them consider that the time is not right to make purchases of durable goods.

The same source states that 62.4% of households believe that their income covers their expenses. This is rejected by 34.2% who are on the verge of going into debt and dipping into their savings. Of this group, only 3.4% claim to save part of their income, as well as 16.7% of households who expect to save over the next 12 months. On the other hand, 83.3% do not think they will be able to do so.

The financial situation of the last 12 months is struggling to satisfy 32.7% of households who think it has deteriorated against 8.5% who consider the opposite. As for their vision of the financial situation for the next 12 months, 31.2% of households expect an improvement in their financial situation, against 12.9% who fear a deterioration.