Most of the basic and necessary items for daily consumption are still witnessing an exponential rise, which has negatively affected Moroccan families, especially the fragile and middle groups, who suffer greatly to create a kind of balance in managing their daily food and holidays.
A number of those interested in political and economic affairs called, in their recent reports, to alleviate the severity of the suffering of the vulnerable and middle groups, who suffer from the accumulation of debts.
The same sources considered that the government has all the powers, through the approach of Article 4 of the Freedom of Prices and Competition Law, to cap prices, highlighting that the high rate of borrowing in the event of continued high prices may lead Moroccan families to the abyss.
According to data issued by Bank Al-Maghrib, the debts of Moroccan households increased by 3.2 percent, or approximately 383.4 billion dirhams, of which 339 billion dirhams are for individuals and members of the community, and 43 billion dirhams for self-contractors, according to recent statistics.
According to the data of the same report, a copy of which was seen by Gazette 24, that households’ resort to borrowing witnessed a slight decline, after the increase in the average borrowing rate at banks by 5.03 percent in the first quarter of this year.
On the other hand, the High Commissioner for Planning confirmed, in its latest report, that the expenditures of families in Morocco, on the occasion of Eid al-Adha, alone, increased by more than 18 billion dirhams.
In its latest report, the delegate stated that between 2021 and 2023, the price of meat increased by 7.2 percent.
The delegate added that the volume of expenditures of Moroccan families on the occasion of this holiday amounted to 15.4 billion dirhams, bringing the average price of livestock allocated for the feast per family to 2,000 dirhams in 2019, compared to 1,840 dirhams in 2013, registering a growth of 8.7 percent.
Meat expenditures on the occasion of Eid al-Adha, according to the same source, accounted for 29 percent of the annual household budget allocated for meat consumption. This share is equivalent to 32.6 percent for families out of the poorest 20 percent of the population and 25.5 percent for households out of the most affluent 20 percent of the population.