Remittances from Moroccans residing abroad amounted to MAD 9.96 billion ($969 million) from January 1 through the end of February 2020.
Rabat – Morocco’s exchange office stated that the country’s net inflow of foreign direct investment (FDI) amounted to approximately MAD 2.22 billion ($216 million) from January 1 until the end of February, compared to MAD 2.75 billion ($267 million) during the same period in 2019, recording a decrease of 5%.
The office explained that the recession in FDI is due to a 35.1% decrease in the returns of foreign direct investment and a 49.2% drop in expenditures.
During the first two months of 2020, the net flow of Moroccan direct investments abroad dropped from MAD 1.62 billion ($158 million) to MAD 692 million ($67 million).
Remittances from Moroccans residing abroad amounted to MAD 9.96 billion ($969 million) from January 1 through the end of February 2020.
Meanwhile, travel revenues amounted to about MAD 11.8 billion ($1.15 million) from January 1 to February 29, compared to MAD 10.58 billion ($1.03 million) during the same period in 2019, recording an increase of 11.5%.
Travel expenses increased by 15.5% at MAD 3.39 billion ($330 million).
