Rabat, Feb. 13 - The 2007 remittances of Moroccan expatriates stood at MAD 55Bn (USD 7Bn) up from USD 6.1Bn in 2006, that is a 15.1% increase, Morocco's Exchange Office said in its annual report.
The Office, which monitors the exchange rates, noted that the remittances also rocketed 43.2% compared to the 2002-2006 average money transfers by Moroccans living abroad.
Investment and foreign private loan revenues rose in 2007 to some USD 4.8Bn, i.e. an increase of 25%, the source said, revealing that direct investments have contributed 89.1% to the overall revenues.
The travel revenues also improved 12.1% in 2007 as they stood at USD 7.56Bn, up from USD 6.7Bn in 2006, the report indicated, adding that compared to the 2002-2006 average, these revenues progressed 37.6% in the past year.
As to the travel expenditures, they stood at about USD 898Mn in 2007, which is an increase of 15% compared to 2006, the Office said, noting that the travel balance shows a 11.7% surplus
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