Moroccan Diaspora Remittances Expected to Surge to 71.9 Billion Dirhams in 2021

In a press release, BAM indicated that MRE remittances are expected to reach 71.9 MMDH in 2021 and 73.4 MMDH in 2022, after an increase of 5% to 68 MMDH in 2020 due to the health crisis.

Imports are expected to grow at a sustained pace, considering the expected increases in the energy bill and consumer goods purchases, the press release also announces a recovery in exports that would be caused by a likely increase in automotive production capacities.

Also, travel receipts are expected to experience a relative increase, which would be driven by an increase to 38.1 MMDH in 2021 and 68.2 MMDH in 2022 in foreign tourist arrivals. Regarding receipts from foreign direct investment (FDI) in real estate transactions, they are expected to be around 3.2% of GDP, after a drop to 2.4% in 2020, BAM specifies.

As for the official reserve assets, they are expected to reach 310.3 MMDH at the end of 2021, given the expected flows of external financing for the Treasury. They would be strengthened to 318.6 MMDH at the end of 2022.