Morocco: Foreign Direct Investment Down 15%

Morocco: Foreign Direct Investment Down 15%

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Morocco: Foreign Direct Investment Down 15%

According to the Moroccan state press TheĀ Maghreb Arabe Presse (La MAP), the total foreign direct investment went down to US$ 1.7 billion from January to July 2014, against nearly US$ 2 billion in the same period last year. This number represents a decrease of around 15%.

“Remittances from Moroccan expatriates to their native country amounted to 33.16 billion dirhams (US$ 4 billion), as against 33.1 billion dirhams (US$ 3.95 billion) year-to-date through July. There was a slight increase of 0.2%, according to a preliminary report on the foreign sector during the period,” the source said.

“Foreign expenditure during trips to Morocco, in turn, amounted to 30.94 billion dirhams (US$ 3.69 billion), as against 29.66 billion dirhams (US$ 3.54 billion) in the same period last year, up 4.3%,” the source added.

The Moroccan Times.