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Most Moroccans can not economize

Moroccan households are “pessimistic” about their future ability to save over the next 12 months, says a survey by the High Commissioner for Planning (HCP).

Indeed, only 18.5% against 81.5% of households expect to save in the next 12 months, says the HCP in a briefing note on the results of the household survey for households in 1st quarter 2019.

The balance of opinion thus kept its level of the 4th quarter of 2018 (minus 63 points) and deteriorated compared to the same quarter of the previous year (minus 54.5 points), says the HCP.

Regarding households’ perceptions of food price developments, some 88.3% of households report that food prices have risen in the last 12 months when only 0.2% feel their decrease, show the results of the survey.

The balance of opinion thus remained negative at minus 88.1 points, after having been minus 90.3 points a quarter before and minus 86.7 points a year earlier, adds the same source.

Over the next 12 months, food prices are expected to continue to rise, according to the same source, noting that the balance of opinion is as follows: 87.6% of households vs. 0.1% remained negative at 87.5 points instead of -86.6 points a quarter earlier and -82.9 points last year.

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