The flow of foreign direct investment (FDI) in Morocco recorded at the end of July 2020 has declined by 21.5% compared to last year. According to the Foreign Exchange Office, it amounts to 9.02 billion dirhams and is explained by a 26.4% drop in FDI receipts.
The net flow of foreign direct investment (FDI) in Morocco fell by 7.2% and stood at around 8.34 billion dirhams (MMDH) at the end of June 2020, according to the Foreign Exchange Office. This is also the case for remittances from Moroccans living abroad .
The deadline for filing declarations for the voluntary regularization of assets and liquidity held abroad has been extended by the Office of Foreign Exchange.
The most sensitive sectors of the Moroccan economy are experiencing record declines due to the coronavirus epidemic. Foreign direct investment has seen a 15.9% drop by the end of May 2020.
Travel receipts reached a record in 2019. They recorded a total of 78.8 billion DH against 73 billion DH, according to the Foreign Exchange Office.
Over the first four months of 2020, the energy bill stood at 20.45 billion dirhams (MMDH), down 21.8% compared to the same period in 2019. According to the Office des Changes, this decline is mainly due to the decrease in supplies of gas-oil and fuel-oil of nearly 3.8 MMDH.
Covid-19 and the restrictive measures put in place have caused a drop in Morocco’s foreign trade. This is evidenced by the figures published by the Office of Foreign Exchange.
The trade deficit in the first quarter of 2020 worsened by 3.8% to over 49.13 billion dirhams (MMDH), compared to 47.34 MMDH in the same period last year. This is what the indicators of foreign trade of the Office des Changes indicate.
The Office of Exchange has just published the statistics on foreign trade at the end of March 2020. It shows a 30% drop in the kingdom’s exports in March 2020. The health crisis due to the coronavirus is the main cause.
To deal with the covid-19 epidemic, the Office des Changes grants an "exceptional" tourist allocation to Moroccans stranded abroad due to the closure of air, sea and land links.
The National Association of Bank Employees filed a complaint on Saturday with the High Authority for Audiovisual Communication , against the radio host, Mohamed Bousfiha, alias Momo. It accuses him of insulting and humiliating remarks.
An exceptional allowance of 20,000 DH is granted to Moroccans stranded abroad . It is the Office of Foreign Exchange and the Ministry of Foreign Affairs and Moroccans Residing Abroad who have decided to take this measure.