(3 Minutes Read)
Morocco’s diaspora remittances reached MAD 115.15 billion, or USD 11.5 billion, in 2023, new data from the Office of Foreign Exchange has shown. The number reflects an increase of 4% compared to December 2022, the report added. Remittances from Moroccans residing abroad are key to the country’s economy.
Morocco’s diaspora remittances reached MAD 115.15 billion, or USD 11.5 billion, in 2023, new data from the Office of Foreign Exchange has shown. The number reflects an increase of 4% compared to December 2022, the report added. Remittances from Moroccans residing abroad are key to the country’s economy.
Read Also:
https://trendsnafrica.com/morocco-and-spain-commit-to-boost-up-bilateral-cooperation-on-security/
https://trendsnafrica.com/us-moroccan-joint-operation-exposes-underage-cyber-fraudster-in-morocco/
In 2023, Morocco secured the second spot among leading recipients of remittances in the Middle East and North Africa region, according to the World Bank’s Migration and Development Brief. Egypt ranked first in the region, with USD 28.3 billion, followed by Lebanon, and Jordan. In addition to remittances, Moroccan diaspora members also contributed to Morocco’s tourism boost last year.
