Morocco: Household debt stands at the equivalent of 27% of GDP in 2025

Monitoring household debt is a key indicator of financial stability, closely watched especially since the global monetary tightening and rising credit costs in recent years. In Morocco, this data is part of the macroprudential work traditionally conducted by the Kingdom's monetary and statistical authorities. According to Financial Afrik, Moroccan household debt is set to reach the equivalent of 27% of GDP in 2025. As the detailed content of the article is reserved for subscribers, it was not possible to consult the exact issuing institution of this figure, nor its breakdown by credit type (real estate, consumer), nor its evolution compared to previous years. For households, this level of debt affects their savings capacity and exposure to interest rate fluctuations. For banks and the regulator, this ratio serves as a barometer of systemic risk. For the State, it sheds light on room for maneuver regarding housing and consumer policies. By international comparison, a 27% GDP ratio remains moderate compared to the standards of many developed economies, where household debt often exceeds 50 to 100% of GDP. This could reflect still incomplete banking penetration or structural caution among Moroccan households. An open question remains, which the source does not resolve: does this figure mark an acceleration compared to previous years