MREs during Operation Marhaba. Credit: MAP
Fund transfers made by Moroccans living abroad (MRE) continue their upward trend to reach a record of 117.5 billion dirhams in 2024, an improvement of 1.9%, according to Bank Al Maghrib projections.
“The available data suggests a continuation of the upward trend in MRE transfers, with improvements of 1.9% in 2024 to MAD 117.5 billion and of 5.3% in 2025 to MAD 123.7 billion,” specifies BAM in its report on monetary policy, published at the end of the second quarterly meeting of its Council for the year 2024.
For their part, travel revenues should continue their performance with an increase of 5.8% to 110.8 billion dirhams, said the Central Bank, noting that in 2025 they will increase by 5.8% to 117.2 billion dirhams.
Furthermore, FDI revenues would increase to 46.6 billion, or the equivalent of 3.1% of GDP in 2024 after 2.4% a year earlier, to reach the equivalent of 3.2% of GDP in 2025 .
In 2025, exports are expected to record an increase of 8.9%, essentially reflecting that of 13.2% to 88.5 billion in sales of phosphates and derivatives and 12.8% to 185.1 billion in shipments from the automotive sector. .
At the same time, imports would increase by 9.7%, mainly reflecting increases in the acquisition of capital goods and finished consumer products, as well as a 4.9% rise to 125.1 billion in the energy bill.
Taking into account new assumptions relating to the international environment, macroeconomic forecasts as well as achievements at the end of April 2024, the current account deficit should increase from 0.6% of GDP in 2023 to 1.7% in 2024 then to 2 .7% in 2025.
