10% of Moroccan expats’ transfers recorded in 2021 were channelled into investment
Moroccan expats’ transfers reached $10.8 billion in 2021
Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies says remittances of Moroccans living abroad have increased from Dh70 billion in 2020 to Dh100 billion in 2021 despite the impact of the COVID-19 pandemic.
Tuesday 11/01/2022
10% of Moroccan expats’ transfers recorded in 2021 were channelled into investment
RABAT- World Moroccans' remittances have reached 100 billion dirhams ($10.8 billion) last year, said Monday the Minister Delegate in charge of Investment, Convergence and Evaluation of Public Policies, Mohcine Jazouli.
Speaking at the House of Representatives, Jazouli stressed that remittances of Moroccans living abroad have increased from Dh70 billion in 2020 to Dh100 billion in 2021 despite the COVID-19 pandemic impact.
The Minister underlined that 10% of these transfers recorded last year were channelled into investment, noting that Dh8 billion were invested in the real estate sector and Dh2 billion in productive sectors.
These figures, which remain significant, "encourage us to redouble our efforts to encourage Moroccans living abroad to invest more in their country of origin and to reach 20 or 30 billion dirhams, for example, in the short term, as well as to improve the rate of investment targeting productive sectors," he added.