Morocco’s Household Confidence Plummets to 15-Year Low Amid Economic Concerns

Moroccan households’ confidence has largely deteriorated in the first quarter of 2022. The Household Confidence Index (HCI) stood at 53.7 points, the HCP said in an information note on the results of the permanent survey of the economic situation conducted among households in Q1-2022. The reasons for this deterioration are numerous and go through the perception by households of the standard of living, unemployment, the opportunity to make purchases of durable goods and their financial situation.

According to the HCP, in the first quarter of 2022, 98.1% of households reported that food prices have increased over the past 12 months, while 0.2% think the opposite. The same survey highlights that 75.6% of households complained of a deterioration in their standard of living over the past 12 months, 15.7% think the situation is stagnant and 8.7% think there has been an improvement.

During the survey, 47.4% of Moroccans say they are in debt or drawing on their savings and 4.1% say they are saving part of their income.