Remittances to Morocco Drop 6.4% as Overseas Transfers Decline

These transfers amounted to 9.945 billion dirhams at the end of February last, while they were 10.625 billion dirhams during the same period in 2018, a decrease of 6.4% (-680 million dirhams).

The Foreign Exchange Office also reports a 28.8% drop in Foreign Direct Investment (FDI) flows, from 4.351 billion dirhams in 2018 (at the end of February) to only 3.1 billion dirhams at the beginning of this year. The financial institution explains this drop by a 24.3% decline in FDI earnings, more significant than the 14.3% decline in expenditure.

The figures are in the green as regards the income from investments abroad with an increase of 39.4% (2.599 billion dirhams instead of 1.864 billion dirhams), we can also read in this note.