Saturday, December 21

Morocco’s Expat Remittances Hit 4.7 bln USD in 8 Months

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Xinhua
Marta Subat

Remittances from Moroccans abroad reached 4.7 billion U.S. dollars in the first eight months of 2018, up 1 percent compared with the same period last year, the foreign exchange regulator said Saturday.

The remittances, a main source of foreign exchange reserves in Morocco, came from some 5 million Moroccan expatriates.

Between January and August, the flows of foreign direct investment (FDI) in Morocco declined by 8.6 percent to 1.9 billion dollars from a year earlier.

In 2017, Morocco attracted nearly 2.57 billion dollars of FDI, up 12 percent year-on-year.

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