A total of 32% of Moroccans save money, while 68% fail to put money aside, showed a recent study released by Group Sunergia and the Economist.
The same proportion of respondents was recorded among both genders, noting that those who save are more likely to be young people aged 18 to 24 (45%), added the study.
In detail, more than half of Moroccans (51%) who save money do so to deal with emergencies, followed by 13% who are more into investment and for the launch of a project, 11% of respondents say they do so to finance their children’s education and secure their future, others do it for pleasure with the same rate, 9% save to buy a house, and 4% respondents to have a car.
In contrast, the majority of respondents who do not save (79%) say that their financial situation does not allow them to save.
This rate is higher among men (85%) than women, with mostly those aged 35 to 44 (89%).
10% of respondents say that they like to enjoy life and live in the moment, 2% point to the impact of rising prices, and 2% say they do not have a stable income, among other reasons, showed the survey findings.
The Group launched the survey study, following the current crisis in a context of high inflation, soaring prices, and rising interest rates nationwide.
Compared to the last survey conducted during the COVID-19 period, the situation has not improved since the rate of Moroccans who save has dropped from 44% in 2021 to 32% in 2022, according to the Moroccan Group.
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