Casablanca – With rising prices and an unstable, poor quality of life, the public’s morale in Morocco continues to fall, reaching its lowest level since 2008, a recent survey from the High Commission for Planning (HCP) shows.
According to the poll’s findings, in the third quarter of 2022, 81.5% of families reported a decline in their standard of living over the past 12 months. While only 11.6 % reported that their living conditions remained unchanged, with the lowest category of 6.9 % reporting an improvement.
Over the next 12 months, 49.8% of households expect their standard of living to deteriorate, 41.9% to remain at the same level, and 8.3% to improve, the survey confirmed.
During the third quarter of 2022, Moroccans’ Household Confidence Index (HCI) stands at 47.4 points instead of 50.1 points recorded in the previous quarter and 65.5 points a year earlier, HCP’s latest report noted.
Read also: Report: 26% of Moroccans Suffered Depression at Least Once in Their Life
The same survey explained the decline in the level of household confidence during this quarter follows the high rising prices, higher unemployment rate, poverty, and COVID-19. The decline is more severe this year compared to the past two years.
In terms of unemployment, the survey found that 87.5% of households expected the unemployment rate to climb over the next 12 months, while 4% expected it to fall.
Meanwhile, 82.1% versus 8.1% of surveyed people believed that this is not a good time to make purchases of durable goods.
On the other hand, the survey also found that 53.5% of households reported that their income covers their expenses, 43.7% reported taking on debt or drawing on savings, and 2.8% reported saving a portion of their income.
