Only 28.2% of Moroccan households believe that their standard of living improved in 2018.
Rabat – Morocco’s High Commission for Planning (HCP) has shared new statistics revealing Moroccan households’ concerns about their standard of living.
The index of household confidence (ICM), dropped to “79.1 points” in the first quarter of 2019 from “79.7 points” in the previous quarter, and “87.3 points” a year earlier.
Meanwhile, 43% of households say that their standard of living deteriorated last year.
Only 28.2% said that their standard of living had improved, while the other 28.6% believe that their standard of living remained stable.
HCP noted that the balance of the index “stood at a negative level of -15 points, recording a deterioration either in comparison with the previous quarter or with the same period last year, when it recorded -13.3 points and -6.2 points, respectively.”
The report added that 26.5% Moroccan households expect a deterioration in their standard of living in the next year, while 39% of them predict stability. The other 36.5% of the households expect improvement.
“The balance of this index reached 10 points, compared with 9 points recorded in the previous quarter and 16.6 points during the same period last year,” said HCP.
Lower expectations on employment
The survey also reveals that 82.5% of households surveyed in the first quarter of 2019 expected a rise in unemployment in the upcoming 12 months.
“The balance of this index stood at a negative level of -75.6 points, marking a decline either in comparison with the previous quarter or the same period last year.”
In recent years, the Moroccan government has been facing pressure to increase youth employment.
A recent survey conducted by Afrobarometer said that 87% of Moroccans believe that the government is not doing enough for employment.
The report added that more than 66% of Moroccans rated unemployment as the most serious issue facing the country.
Negative index throughout HCP’s recent report
HCP’s report said that 63.6% of the households believe that their incomes are sufficient to cover their expenses, while 32.6% of them said they are spending their savings or borrowing to cover their expenses.
HCP said that the balance of the households’ view on their financial position “remained at a negative level of -28.9 points compared to -28.4 pints during the previous quarter and -25.2 points during the same period last year.”
According to the report, 32.8% of the households said that their financial position improved in the past 12 months, while 11.6% said that their financial situation deteriorated.
“The level remained negative, reaching -21.2 points compared to -20.7 points recorded during the previous quarter and -18.1 points recorded during the same period of 2018,” according to HCP.
The survey of HCP indicated that 30% of households expect improvement compared with 12.4% who expect further deterioration.