Moroccan Diaspora Remittances Surge to Record 105 Billion Dirhams Despite Global Crisis

In a note published after the last quarterly meeting, for the year 2022, the central bank said that the funds received from the diaspora have increased significantly, defying the global crisis. The MREs should thus transfer, by the end of this year, around 105.8 billion dirhams to the kingdom.

This amount should decrease to 101.5 billion in 2023, in particular due to the deterioration of economic conditions in the host countries, then increase to reach nearly 104 billion DH in 2024, the same source specifies.

As for the current account deficit, it would deepen from 2.3% of GDP in 2021 to 3.3% this year before easing to 2.1% in 2023 and then to 1.9% in 2024, it is specified.