Morocco: Average household debt doubles within ten years
It now stands at 38,600 dirhams.In Morocco, the average debt per household has
reached 38,600 dirhams (€3,587) in 2014, an amount that has doubled in the past ten years, according to a report from the central bank (Bank Al-Maghrib) seen by La Vie Eco.
This increase is mainly due to the development of housing loans, which account for 64 per cent of household debt, according to the report.
The document also reveals that the outstanding bank debt of households has reached 282 billion dirhams in 2014, which represents an increase of five per cent over the previous year. The debt / GDP ratio is hovering around 30 per cent, in keeping with 2013.
The analysis also highlights
that the household repayment capacity is declining, with outstanding non-performing loans increasing by 12.2 per
cent in 2014 compared with 2013 - and now reaching nearly 22 billion dirhams.
The rate of access to banking services in Morocco currently stands at 57 per cent.