Rabat – The transfers by Moroccan living abroad rose 7.6% to 58.5 billion dirhams in 2011, said Morocco’s foreign exchange regulator, Office des Changes.
Receipts from these transfers grew over 4.1 billion dirhams over the past year, provisional data from the Office des Changes showed.
At the pick of the global economic and financial crisis, remittances by Moroccan expatriates, most of whom lived in Western Europe, dipped to 53 and 50.2 billion dirhams respectively in 2008 and 2009.
The global economic recovery, especially in the euro zone, had a positive impact on these receipts starting from 2010 as they increase to 54.38 billion dirhams.
