The majority of Moroccan households are pessimistic about unemployment and their financial situation in the next 12 months.
Rabat – Moroccan household morale experienced an improvement in the first quarter of 2021 compared to the same quarter in 2020, according to the High Commission for Planning (HCP) household survey.
The determination of the household morale is based on the confidence index which revolves around four aspects, including the standard of living, unemployment, the opportunity to make purchases of durable goods, and the financial situation of households.
The survey revealed that around 64.8% of households declared a drop in their standard of living over the past 12 months, 20.9% stated that they maintained the same standard of living, while 14.3% experienced an improvement.
Roughly 26.0% of households expect, however, a deterioration in living standard in the coming year, 34.8% hope to maintain the same level, while 39.2% expect an improvement.
Regarding the unemployment rate over the next 12 months, about 76.1% of households expecting it to increase whereas 13.9% forecast a drop.
Meanwhile, the survey added that 73.2% against 11.7% of households consider the current time inappropriate to purchase durable goods.
The survey also revealed that about 55.8% of households declared that they can cover their expenses with their monthly income, while 39.3% will go into debt or use their savings, and 4.9% declared they save part of their income.
In the last 12 months, around 54.4% of households believe that their financial situation has dropped while 7% saw an improvement.
Regarding the improvement of the financial situation for the next 12 months, 35.1% of households expect an improvement, 13.8% expect a deterioration, while 51.1% believe that they will experience stagnation.