At the end of last February, remittances from Moroccans living abroad reached 12.31 billion dirhams (MDH), up 22.5%, according to the Office of Foreign Exchange.
Remittances from Moroccans living abroad , which reached a record 93.3 billion dirhams last year, are expected to fall to 79.3 billion dirhams this year, according to forecasts by Bank Al-Maghrib (BAM).
At the end of last January, Moroccans living abroad (MRE) transferred around 6.09 billion dirhams (MMDH) compared to more than 6.74 MMDH in 2021, according to the Office des Changes.
As of the end of December 2021, remittances made by Moroccans living abroad reached nearly 93.3 billion dirhams, compared to 68.18 MMDH a year earlier.
Transfers from Moroccans living abroad (MRE) to Morocco reached a record of 100 billion DH in 2021, an increase of 46.6% compared to 2020.
The French government has just introduced a bill in parliament to reduce the costs of fund transfers made by foreigners residing in the country, including Moroccans.
Despite the Covid-19 pandemic and its consequences on activities, remittances from Moroccans living abroad (MDM) reached 100 billion dirhams (MMDH) in 2021. This amount was revealed on Monday by the delegate minister in charge of Investment Mohcine Jazouli.
Funds transfers made by Moroccans residing abroad (MREs) have maintained their upward trend despite the closure of borders. At the end of November, they amounted to more than 86.48 billion dirhams (BMDH) compared to 61.29 BMDH a year earlier.
The Moroccan news was mainly marked in 2021 by the diplomatic crisis with Spain and the migratory episode of Ceuta, the organization of legislative elections, not to mention the tensions with Germany and the breakdown of relations with Algeria which led to the closure of the Maghreb-Europe gas pipeline.
Remittances made by Moroccans residing abroad (MREs) have continued their upward trend observed in recent months, and should reach 95 billion dirhams (MMDH) by the end of the year, according to Bank Al-Maghrib.
Moroccans living abroad (MRE), estimated at five million, of whom nearly a fifth are in Spain, have transferred a lot of funds to Morocco during the health crisis. By the end of October, these transfers had reached nearly 8 billion euros, an increase of 43.3% compared to 2020.
Remittances from Moroccans Living Abroad (MRE) are maintaining good momentum this year. As of the end of October, they reached 79.656 billion DH compared to 55.58 billion DH during the same period last year.