Assahafa.com
Remittances from Moroccans expatriates reached a record level of 119 billion dirhams (MAD) in 2024, up by 3.3% compared to the previous year, according to the Foreign Exchange Office.
These remittances recorded an average annual growth rate of 5.7% over the period 2021–2024, the Office noted in its recently published report “Balance of Payments and Morocco’s International Investment Position” for the year 2024.
The report also shows that the balance of private current transfer income rose from 128.4 bln MAD in 2023 to 133.5 bln MAD in 2024. This increase results from a 4.5% rise in receipts, partially offset by higher expenditures (+19.2%).
According to the same source, the growth in receipts mainly stems from the increase in remittances from Moroccan Expats (+3.8 bln MAD), the main component of private current transfers.
As for public current transfer income, it posted a surplus that improved by 1.2 bln MAD to reach 3.6 bln MAD in 2024. This development is mainly attributable to a 35.4% increase in receipts.
Source: map
