Morocco’s High Planning Commission revealed that 82.5% of households reported a deterioration in their cost of living in the first quarter of 2024, compared to the previous 12 months. Meanwhile, 13.1% reported that it remained stable, while 4.4% said it improved.
As for future expectations, 56.9% predict a further decline in living standards, while 33.5% expect stability, and 9.6% expect an improvement. The Commission also reported that 80.7% of households deemed conditions unsuitable for purchasing substantial goods, with just 7.8% expressing the opposite view.
Also, the Commission’s study showed that in the first quarter of 2024, 83.6% of families expected a rise in unemployment in the upcoming 12 months. Moreover, only 1.8% of families were able to save a portion of their income. A staggering 42.3% depleted their savings or resorted to borrowing due to income not covering expenses.
Looking at the household’s financial development in the last 12 months, 56.2% of households admitted their financial status has deteriorated. With regards to families’ expectations for their financial status over the following 12 months, only 16.5% of households expect an improvement compared to 29.9% who anticipate a decline.
The family confidence index is calculated based on seven indicators. Four of these are related to the general situation, while the rest focus specifically on the family’s situation. The indicators include living standards, future living standards, future unemployment developments, sustainable goods purchasing opportunities, current financial family status, previous financial family status development, and future financial family status.
