Remittances from Moroccan expatriates increased by 36.8 percent by the end of 2021, compared to 2020, according to a report by the Moroccan Exchange Office, the institution in charge of abroad statistics trade and economy exchange.
Expatriate remittances amounted to about 93.3 billion dirhams ($9.9 billion) in 2021, compared to 68.18 billion dirhams ($7.2 billion) in 2020. Compared to previous years, these remittances have developed at a record level during the past year.
According to the exchange office, foreign direct investments in Morocco increased by 20.5 percent in 2021, compared to 2020. Foreign direct investments amounted to 20.17 billion dirhams ($ 2.1 billion) in 2021, compared to 16.74 billion dirhams ($ 1.7 billion) in 2020.
Remittances support the expenditures of Moroccan families, while the Central Bank of Morocco expects the inflation rate to reach 2.1 percent this year, compared to 1.4 percent last year. However, if this rate is weak, it does not hide the fact that it is an average that does not reflect differences in the different families' sense of the impact of prices on their purchasing power.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
