Rabat - According to recent research, it is almost impossible for Moroccans to save any money.
Rabat – According to recent research, it is almost impossible for Moroccans to save any money.
A study on household confidence conducted by the Moroccan Planning Authority (HCP) has shown that only 5.8 per cent of Moroccan households can save part of their income.
The study has found that Moroccan households remain pessimistic about their ability to save money in the coming months.
In the first three months of 2015, the study says, 84.9 per cent of households feel they cannot save in the next 12 months, compared to 15.1 per cent who said they can.
Nearly 56 percent of households think that their income covers their expenses, while 38.2 per cent of them say they take loans or tap into their savings.
During the first three months of 2015, 74.3 per cent of households expect an increase in the number of the unemployed in the next 12 months, against 9.1 per cent who think otherwise. With a negative level of -65.2 points, the balance of this indicator recorded an improvement of 2.8 points from the previous trimester and 3.9 points compared to the same period of last year.
58.3 per cent of Moroccan households consider it is not appropriate to make purchases of durable goods, while 21.3 per cent disagreed. The balance of this indicator stood at -37 points or 1.1 point increase from the previous trimester.
87.8 per cent of households estimate that food prices have increased during the last 12 months, 11.6 per cent think they stagnated and 0.6 per cent believe they declined.
With a level of -87.2 points, the balance of this indicator deteriorated by 2.7 points from the previous trimester and Improved by 2.2 points compared to the same period of 2014.