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Morocco Household Confidence Index Continues to Drop

A view of Casablanca, Morocco. (AFP)
A view of Casablanca, Morocco. (AFP)
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Morocco Household Confidence Index Continues to Drop

A view of Casablanca, Morocco. (AFP)
A view of Casablanca, Morocco. (AFP)

The Moroccan household confidence index fell to 74.9 points in the second quarter of this year, from 79.1 points in the previous quarter and 87.3 points recorded in the second quarter of last year.

Morocco's High Commission for Planning (HCP) carried out the Permanent Household Status Survey that revealed the household confidence index continued its downward trend which started over a year ago.

It added that the decrease in the index reflects the decline of all the indicators constituting it.

Regarding the households' views on the general development of the living conditions, the report highlighted that 46.2 percent noted a deterioration in their living standards during the preceding 12 months, while 32.9 percent of households said the standards of living had remained stable and 20.8 percent had seen improvement.

On household predictions for the development of living standards over the next 12 months, 27.3 percent expect it to continue to deteriorate, 40.6 percent consider it will be stable and 32 percent expect to see improvement.

Regarding unemployment, the study highlighted that households were more pessimistic during the second quarter of the current year compared with the same period last year.

Research showed that 83 percent of households expected a rise in unemployment during the next 12 months, compared to 6.1 percent that expect a decline.

The field research, carried out by the Commission every three months, also showed that 61.4 percent of households considered that during the second quarter of 2019 the conditions were not suitable for buying sustainable goods, while 20.1 percent said the opposite.

In terms of household finances, 62.4 percent of households reported that their income was sufficient to cover their expenses, while 34.2 percent reported that their expenses were depleted or they resorted to borrowing because of insufficient income.

Only 3.4 percent of the households managed to save part of their income, with 16.7 per cent of households said they could save within the next 12 months, compared to 83.3 percent of those who said otherwise.

Regarding the development of households financial status during the past 12 months, 32.7 percent said they had improved, compared to 8.5 percent that reported deterioration.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.