Moroccan households express a decline in their quality of life, a rise in unemployment, and financial trouble during 2020.
Rabat- Morocco’s High Commission for Planning (HCP) has published a survey outlining the economic conditions of Moroccan households in the year 2020.
The survey uses the Consumer Confidence Index (CCI) which outlines households’ perceptions of their living standards, unemployment, the general economic situation, and the ability to save money. The index provides an indication of future developments of households’ consumption and saving.
In 2020, around 59.8% of households reported a deterioration in the quality of life, an additional 27% reported a stagnation, and about 13.2% experienced an improvement.
Meanwhile, expectations diverge around the economic situation in the coming year.
Roughly 41.7% of households expect their living standards to deteriorate, while 34% expect stagnation and 24.3% forecast an improvement.
The majority of surveyed households are pessimistic about employability in Morocco. Over the next year, 85% of households expect unemployment to increase.
In terms of durable goods, 73.1% of Moroccan households consider that now is not a good time to make purchases of hard goods.
In the fourth quarter of 2020, 61.9% of households estimate that their income covers their expenses. However, 33.6% report going into debt or drawing on their savings to cover expenses. At the same time, only 17.1% of households expect to save money over the next year.
As for the evolution of their financial situation over the last year, 46.6% against 6.7% of households consider that it has deteriorated. Nonetheless, some remain optimistic about the future of their financial situation: 23.2% of households forecast an improvement.
Concerning the cost of food, 75.8% of Moroccan households report that food prices have increased and 67.5% of households expect the food prices to go up in 2021.
With regard to public services, Moroccan households report mixed results. In 2020, 57.1% of households perceive an improvement in the quality of administrative services and 41.8% of households think that the human rights situation in Morocco has improved.
Meanwhile, 60.2% of households perceive a deterioration in the quality of health services during the crisis caused by the COVID-19 pandemic. Similarly, 49.4% of Moroccan households felt deterioration in the education sector.