Remittances by Moroccans living abroad (MRE) reached 46.38 billion MAD at the end of May, Morocco’s foreign exchange regulator, the Office des Changes, announced on Monday.
This figure represents a 2.4% increase compared to the 45.28 billion MAD in the same period of 2023, the Office pointed out in its latest bulletin.
May also saw a 10.9% increase in travel revenues, reaching 9.431 billion MAD, up from 8.502 billion MAD a year earlier. For the five months, this represents an increase of 1.6%.
Travel expenditure amounted to 2.357 billion MAD in May, rising from 2.132 billion MAD a year earlier (+10.6%). This represents a surge of 22.6% for the January-May period.