Gulf Expats Boost Remittances to Morocco as European Transfers Decline

In a drastic drop, for some time now, money transfers made by MREs have recorded, at the end of April 2019, a decline of 619 million DH, or -2.9%.

While this drop is mainly observed among MREs in Europe, funds transfers from the Gulf countries are clearly on the rise. Indeed, according to Challenge, they reached 11.6 billion DH last year, according to figures from the Office des Changes. This is equivalent to 17.8% of the total funds transferred by Moroccans in the diaspora, for the 2018 account.

The weekly believes that "the main transfers of MREs from the Gulf countries come from Moroccans living in Saudi Arabia". And to add that "their remittances