MRE transfers at 93.7 billion dirhams in 2021

The annual report of Bank Al-Maghrib (BAM) on the economic, monetary and financial situation, reports transfers from Moroccans residing abroad (MRE) established for 2021 at a record figure of 93.7 billion dirhams ( MMDH), up 37.5% compared to 2020.

In this report, presented on Saturday by Wali of BAM, Abdellatif Jouahri, to King Mohammed VI, it is stressed that this performance has helped to contain the widening of the current account deficit which stood at 29.1 billion dirhams, or 2.3%. gross domestic product (GDP) instead of 1.2% a year earlier.

At the same time, the concerns aroused by the recurring waves of contamination continued to weigh on tourist activity, with travel receipts having returned to 34.3 billion dirhams against 36.4 billion dirhams in 2020 and 78.7 billion dirhams in 2019, notes the same source. .

The said report also indicates that foreign trade experienced a significant rebound in 2021, in line with the easing of health restrictions and the recovery in demand both nationally and internationally.

Imports of goods increased by 24.7%, driven in particular by the increase in the energy bill and the increase in purchases of finished consumer products. For their part, exports increased by 25%, reflecting that of sales of phosphate and derivatives and automobiles.

These developments resulted in a sharp worsening of the trade deficit which reached the equivalent of 15.5% of GDP, with however a virtual stagnation of the coverage rate at 62.3%.

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