Moroccan Diaspora Remittances Surge 5% in 2020, Defying Economic Downturn

According to the Kingdom’s Finance Minister, this increase "reveals the strength of the ties between Morocco and this community". Mohamed Benchaâboun recalled that this is an unusual fact, as for several decades "these transfers have evolved in a regular manner and continue independently of crises and events that may occur".

At the beginning of the year, these transfers experienced a decline, which is justified by the impact of the pandemic crisis before experiencing an increase at the end of the first half and ending the year with a 5% increase, recalled Minister Benchaâboun.

This meeting, held under the theme "Economic Recovery of Morocco: the mobilization of skills, entrepreneurs and Moroccan investors from the world, a lever of synergies", was also attended by two other ministers, namely the Minister of Industry, Moulay Hafid Elalamy and the one in charge of Moroccans living abroad, Nezha EL Ouafi.