By Ebi Kesiena
A recent poll conducted by Morocco’s High Commission for Planning (HCP) has revealed a concerning trend of 42.1 percent of Moroccan families resorting to borrowing money to cover their daily expenses during the second quarter of this year.
The HCP, the official body responsible for conducting opinion polls in Morocco, provided insights into the financial struggles faced by many households in the Kingdom.
According to the poll, 55.8 percent of Moroccan families reported that their income is sufficient to cover their spending needs. However, a significant portion, 42.1 percent, indicated that they had to borrow money to manage their day-to-day expenses.
The survey further revealed that nearly 83 percent of Moroccan families felt a “decline” in their standard of living over the past 12 months. In contrast, 13 percent of families reported that their standard of living remained “stable,” while only 4.4 percent noted an “improvement” during the same period. These statistics reflect widespread economic difficulties affecting the majority of the population.
Moreover, a staggering 96.4 percent of the families surveyed believed that food prices had increased over the past year. This perception of rising costs is likely contributing to the financial strain and the need for borrowing among Moroccan households.
The HCP’s survey, however, did not disclose the number of families included in the poll, the exact period during which it was conducted, or the methodology used.
Heritage Times HT recalls that in response to the economic challenges, Morocco’s Central Bank took measures to address inflation. In June, the bank reduced the main interest rate on the dirham by 25 basis points, bringing it down to 2.75 percent.
