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Morocco: 32% of families are in debt

November 17, 2015 at 1:18 pm

Almost one third of Moroccan families have resorted to borrowing and falling into debt in order to cover their expenses as the monthly income of only 60.5 per cent of families is sufficient for their needs, the High Commission for Planning (HCP) revealed yesterday.

A study on Moroccan families conducted by the HCP revealed that 7.2 per cent of families saved part of their monthly income while 85.3 per cent will be unable to save during the coming 12 months.

The commission said it expects the rate of unemployment to rise among families in the coming year, reaching 74.4 per cent.