Remittances from Moroccan Expats Drop, Raising Economic Concerns
An unexpected decrease in remittances from Moroccans living abroad has been observed by the Exchange Office in its latest report.
Thus, a decline has been observed in remittances from Moroccans living abroad: 26.22 billion dirhams were sent at the end of March, compared to 27.96 billion a year earlier during the same period.
According to the latest figures from the Exchange Office, the travel sector generated 24.63 billion dirhams in revenue at the end of March, representing a modest increase of 2.4% (or 579 million MAD) compared to the first quarter of 2024.
Moreover, the balance of the Travel account increased by 1.5% year-on-year to exceed 17.62 billion dirhams, despite a parallel increase in expenses related to travel abroad, which reached 7 billion dirhams (+4.8%).
