Household purchasing power in Morocco improved by 5.1 points in 2024, compared to 1.8 points in 2023, according to the High Commission for Planning (HCP).
“Following a 0.9% increase in the general consumer price index in 2024, household purchasing power improved by 5.1 points compared to 1.8 points in 2023,” the HCP said in a briefing note on the national accounts of the institutional sectors for 2024.
These accounts also reveal that gross disposable income (GDI) for households edged up 6.7% to MAD 1,059.7 billion in 2024. Employee compensation contributed 45.3% to this income, with an increase of 6.7%.
Mixed income, including the gross surplus from housing services, accounted for 39.4% of household GDI and grew by 4%.
In addition, net property income grew strongly by 10.6%. This income, added to social benefits and other net transfers, contributed 32.9% to household GDI.
However, income and wealth taxes, consisting mainly of payroll taxes and social security contributions, made a negative contribution of 17.6% to household disposable income.
As for final household consumption expenditure, it absorbed 89.2% of gross disposable household income, making household savings rate stand at 11.3%.
Social transfers in kind increased by 9.5% compared to 4% in 2023. As a result, actual final household consumption reached MAD 1,080 billion.
Per capita, household disposable income reached MAD 28,808 in 2024, up 6% year-on-year.
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