Report: Around 43 percent of Moroccans resorted to borrowing to cover their expenses this year

A shocking report published by the High Planning Commission concerning the social and economic life of Moroccans at the start of 2024, in particular the purchasing power of large segments of Moroccan society. In this regard, the commission highlighted that nearly 43% of the Moroccan population used credit to meet their multiple needs and expenses, a figure which raises more questions.

The High Planning Commission confirmed that 42.3% of Moroccan households exhausted their savings or resorted to borrowing to cover their expenses during the first quarter of 2024.

In contrast, the same report recorded around 90.7% of Moroccan households saying they were unable to save over the next 12 months, meaning they were unable to devote part of their income to savings in times of crisis.

According to a permanent survey on the situation of households in the first quarter, 55.9% of Moroccan households declared that their income covered their expenses, while the rate of households having managed to save part of their income during the first quarter did not. does not exceed 1.8%.

The balance of this indicator stabilized at a negative level of -81.4 points, marking a decline compared to the previous quarter and the same quarter of the previous year.

Regarding food prices, 96.9% of households reported that food prices have increased over the past 12 months.

As for the evolution of the prices of food products over the next 12 months, 76.3% of households expect a continued increase, while the rate of households expecting a decrease does not exceed 6.2%. Thus, the balance of these opinions stabilized at a negative level of -70.1 points.