Data released by the Moroccan Exchange Office showed that remittances from Moroccans living abroad in the first seven months of this year increased by 3.3%, stabilizing at around $ 6.8 billion. Remittances from Moroccan expatriates have risen strongly in the last five years, while last year they increased by 4.1 percent, stabilizing at $11.53 billion.
Bank Al-Maghrib expects remittances from Moroccan expatriates to continue to rise, improving by 1.9 percent this year, to reach $11.75 billion. Before reaching $12.37 billion next year, an increase of 5.3 percent. The bank expects Morocco's foreign currency reserves to reach $38.2 billion, representing five and a half months of imports of goods and services.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
