Moroccans abroad have transferred nearly 115.15 billion dirhams (MMDH) to Morocco as of the end of December 2023, an increase of 4% compared to the same period in 2022 (110.72 MMDH), according to the Foreign Exchange Office.
The latest World Bank report on migration and development indicates that 20% of remittances in the MENA region come from Moroccans living abroad (MRE).
Remittances from Moroccans living abroad remain on the rise, according to the latest figures released by the Office des Changes.
In 2022, Morocco recorded a historic peak in revenue from transfers by Moroccans residing abroad (MREs) , reaching 110.7 billion DH, an increase of 16% compared to 2019, according to the latest report from the Office des Changes on the balance of payments.
Moroccans living abroad (MRE) are making a strong contribution to the Moroccan economy through remittances, which have been growing in recent years. These flows have increased from 22.96 billion dirhams in 2000 to 93.67 billion in 2021.
The upward trajectory started by Moroccan tourism since January continues at the end of June. The revenues recorded testify to this. The same goes for the remittances of Moroccans residing abroad (MRE).
The Moroccan government says it wants to protect the interests of the six million Moroccans living abroad (MREs). It intends to engage in negotiations with the OECD in the coming days to review the conventions on the exchange of tax returns and financial information of MREs.
Moroccans residing abroad (MREs) are calling for the suspension of the multilateral agreement on automatic exchange of financial account information.
The Moroccan authorities will engage in negotiations with the European Commission regarding a European directive aimed at restricting the transfer of funds by Moroccans residing abroad (MREs), Abdellatif Jouahri, the governor of Bank Al Maghrib, recently announced.
Just over 45 billion dirhams were sent to Morocco by Moroccans residing abroad by the end of last May, according to figures released by the Foreign Exchange Office .
According to the Office des Changes, the remittances of Moroccans living abroad (MRE) experienced a significant growth of 16% in March 2023, reaching nearly 27.11 billion dirhams. This figure represents an increase of 3.73 billion dirhams compared to the same period last year.
Remittances made by Moroccans living abroad (MRE) increased by 28.6% compared to February 2022. This is specified in the monthly indicators of foreign trade of the Office des Changes.