São Paulo – Foreign direct investment in Morocco reached MAD 20.9 billion (USD 2 billion) from January to November this year down 28% from the same months in 2015, according to the Moroccan Ministry of Finance’s Foreign Exchange Office. The information was released this Friday (16) by news outlet Maghreb Arabe Presse (MAP).
The Foreign Exchange Office said the drop was due to a 14.5% decline in investment inflows and a 48% increase in outflows.
Cash remittances by Moroccan expatriates, on the other hand, were up 4.2% to MAD 57.5 (USD 5.6 billion).
The country ran a travel surplus of MAD 46.3 billion (USD 4.5 billion). The amount is up 4% from last year and means spending by Moroccans in foreign trips exceeded that of foreigners during trips to Morocco.
In trade, Morocco ran a deficit of MAD 166.031 billion (USD 16.3 billion), up 18% from January to November 2015.
*Translated by Gabriel Pomerancblum
