World Moroccans' Remittances Reached MAD 100 Bln in 2021 (Minister)

10 January 2022 Printable Version

Rabat - World Moroccans' remittances have reached 100 billion Dirhams (MAD) 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 (lower house), Jazouli stressed that remittances of Moroccans living abroad have increased from 70 Bln MAD in 2020 to 100 Bln MAD in 2021, despite the COVID-19 pandemic impact.

The Minister underlined that 10% of these transfers recorded last year were channeled into investment, noting that 8 bln MAD were invested in the real estate sector and 2 bln MAD 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.