Moroccan Expatriate Remittances Surge to 108.67 Billion Dirhams, Boosting Economy
Remittances from Moroccans residing abroad (MRE) reached 108.67 billion dirhams (MMDH) at the end of November 2024, marking an increase of 2.8% compared to the same period in 2023. These figures, published by the Office of Foreign Exchange, confirm the trend observed in recent years.
In 2020, these transfers amounted to 61.25 MMDH, representing an increase of more than 77% in four years. In 2023, they exceeded 115 MMDH, a year-on-year growth of 4%.
Bank Al-Maghrib’s forecasts indicate that this trend should continue in the coming years. A growth of 4.3% is expected for the year 2024, and transfers could reach 128 billion dirhams in 2026.
Tourism revenues have also recorded significant growth, reaching 104.47 MMDH at the end of November 2024, an increase of 7.2%.
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