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Morocco: around one third of households are borrowing money to cover their expenses

July 18, 2018 at 10:25 am

Protesters, supporting Rif Movement leader Nasser Zefzafi stage a demonstration demanding from government to take action for development of the region, in Imzouren own of Hoceima, Morocco on June 11, 2017. ( Jalal Morchidi – Anadolu Agency )

An official Moroccan study has revealed that 29.5 per cent of households in the Kingdom are borrowing money to cover their daily expenses.

This was declared in a statement issued by the Moroccan High Commission for Planning (the official body responsible for statistics) during the second quarter of 2018.

The survey showed that 65.1 per cent of households consider that their income covers their expenditure while 29.5 per cent of households resorted to borrowing money in order to meet their needs. Another 5.4 per cent of families are saving some of their income.

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The study pointed out that 37.5 per cent of households in Morocco believe that life standards have been “deteriorating” during the past year while 30.4 per cent considered these standards  as “stable” and 32.1 per cent believe that they have already  “improved”.

88.4 per cent of families stated that food prices have increased during the last 12 months.

74.7 per cent of households are expecting the number of unemployed people to rise within the next 12 months, compared to 13 per cent who are expecting the opposite. Other 54.9 per cent of households consider that it is not the appropriate time for purchasing expensive goods.