Tuesday, July 7, 2009
Working Hard for the Dirham - Average Moroccan Monthly Salary
Here is an article from MENA FN.com (Middle East North Africa Financial Network) on the average monthly income for a Moroccan family.
They are saying that it is 5,300 DH (Dirhams) which comes to about $658.12 USD . Well that should humble us spoiled Americans a bit.
Morocco- Households' average monthly income at MAD5,300
Morocco Business News - 02/07/2009
(MENAFN - Morocco Business News) The average monthly income of Moroccan households stands at about MAD 5,300, a figure that hides flagrant discrepancies between the city and the countryside, MAD 6,100 and MAD 3,900 respectively, and between social classes themselves.
According to a survey conduced by the High Commission for Planning (HCP), about 20% of households have a monthly income of less than MAD 1,930, 40% less than MAD 2,892, 60% less than MAD 4,227 and 80% less than MAD 6,650.
The study, which was presented on Tuesday, found that the average monthly income varies according to the educational level, age, sex and the socio-professional category of the head of the family.
This income mainly comes from paid work and private non-agricultural activities (about 63%), mainly in urban areas, while agricultural activities are the main source of income in the rural ones (41%).
The survey, involving a diversified sample of 7,200 households, also revealed that 20% the households that have the highest salaries monopolise 52.6% of the overall wage bill, while 20% of households with the lowest salaries share only 5.4% of this wage bill.
"The results of this survey have allowed for a better understanding of the poverty dynamics, through three macroeconomic approaches making possible to define the factors that induced the changes noticed between 1985 and 2007, underlined Ahmed Lahlimi, the head of the HCP.
This has shown that the sustainable reduction of poverty requires maintaining the growth rate and reinforcing social equality mechanisms mainly through educing disparities in terms of income, added Lahlimi.
An earlier survey on the Moroccan middle class, which was presented in May, had found that this social class represents 53% of the Moroccan population.
The study showed that while 48% of the people belonging to the class are active, 8.2% of them are unemployed and 43.7% inactive, 26% of them housewives.
The study also revealed that the Moroccan middle class has a number of social concerns including high living costs, drought, school drop-out, unemployment, diseases, and security.