Morocco’s Remittances Stagnate as Tourism Revenue Rises, Foreign Investment Drops
At the end of November, the revenues of Moroccans residing abroad are stagnating with the drop in FDI received. At the same time, tourism revenues are increasing.
According to the November bulletin of the Foreign Exchange Office, the remittances from Moroccans residing abroad (MRE) have stagnated to reach 59 billion dirhams (MMDH). As for foreign direct investment, it fell by 46%, the equivalent of 15.1 MMDH to stand at 17.7 MMDH.
Furthermore, Moroccan investments abroad stood at 8.6 MMDH, an increase of 2.9 MMDH.
According to the same source, the services balance is in the green with its surplus improving: +13.3 MMDH, to 83.6 MMDH due to the increase in tourism revenues of 5 MMDH to 73 MMDH.
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