Over 90% of Households Struggle to Save as Financial Strain Deepens in Morocco

As economic pressures continue to tighten their grip on Moroccan families, a staggering 90.2% of households find themselves unable to save for the future, according to the latest findings from the High Commission for Planning (HCP).

Rabat – As economic pressures continue to tighten their grip on Moroccan families, a staggering 90.2% of households find themselves unable to save for the future, according to the latest findings from the High Commission for Planning (HCP).

Released on Tuesday, the survey results revealed that over half of households are anticipating a decline in their standard of living over the next 12 months, with over 30% expecting a stable financial situation.

The report also showed a slight improvement in the Household Confidence Index for the second quarter of this year, which stands at 46.1 points, up from 45.3 in the previous quarter and 45.4 in the same period last year.

The survey indicates that 82.1% of households reported a deterioration in their living standards over the past year, while 13% noted stability and 4.4% observed an improvement.

In addition, 82.8% of households foresee an increase in unemployment over the next year, compared to 6.6% expecting a decrease. The survey also highlights that 78.9% of households consider the current conditions unsuitable for purchasing durable goods, while 9.5% believe otherwise.

Meanwhile, 55.8% of households reported that their incomes cover their expenses, whereas 42.1% have exhausted their savings or resorted to borrowing. Only 2.1% managed to save a portion of their income.

Reflecting on their financial situation over the past year, 56.5% of households reported deterioration, while 3.3% saw improvement. Looking ahead, 16.7% expect their financial situation to improve, 52.7% anticipate stability, and 30.6% foresee deterioration.

Regarding savings potential, only 9.8% of households believe they will be able to save in the coming year, while 90.2% doubt their ability to do so.

An overwhelming 96.4% of households reported rising food prices over the past year, with just 0.4% noting a decrease. Looking forward, 82.1% expect food prices to continue rising, 14.9% anticipate stability, and 3% foresee a decline.