Remittances to Morocco Drop 8% as Travel and Foreign Investment Decline

30 August 2020 – byBladi.net · 1 min read

Transfers from Moroccans Residing Abroad (MREs) fell by 8.1% to 24 billion dirhams at the end of the first half of 2020. They were able to cover 59.4% of the trade deficit, compared to 63.1% a year earlier.

Over the same period, the travel balance saw an increase of nearly 17 billion dirhams, down 29.9% year-on-year. This result takes into account the drop in travel receipts (-33.2% to 22.4 billion dirhams), added to the decline in expenditure (-41.7% to 5.5 billion dirhams).

As for the flow of foreign direct investment (FDI), it fell by 7.2% to 8.3 billion dirhams, associated with a 22.2% drop in receipts to nearly 13 billion dirhams and a 39.7% drop in expenditure to 4.6 billion dirhams.

As for the flow of Moroccan Direct Investment Abroad (MDIA), it stood at 2.4 billion dirhams, down 41.2%.

Category: Economy

Keywords:

MRE Transfers Deficit Moroccan Living Abroad