Moroccans living abroad

[sbs]

Moroccans living abroad
A total of USD 4 billion transfered this year

The number of Moroccans living abroad amounts 5 Million. This year, they have transferred more than USD 4 billion, reported Quds Press.


Statistics conducted by the Ministry of foreign Affairs and cooperation show that the number of Moroccan living abroad exceeds 5 million.

Morocco depends a great deal on immigrants to bring in hard currency, besides the amounts of money they transfer every year, which contribute to the economic development of the kingdom.

Government figures show that the money transferred by Moroccans living abroad is the second source of hard currency and the second source of income to the country.

Observers estimate the number of Moroccans, at home, who depend on these transfers, directly or indirectly, amounts to 8 million.

Moroccans abroad have contributed enormously to the development of their country of origin at different levels. They invest in tourism, industry, and agriculture, explained AL Quds Press.

“They have even engaged in some social activities especially in the south, providing infrastructure such as electricity, running water and roads, which made communication with remote places easier,” added the same source.

The Moroccan government predicts an increase in the amount of transfers compared to the previous year. They are expected to amount to MAD 40 billion (more than USD 4 billion), an increase of MAD 3 billion in comparison

[Ghazala]

Are there any figures on the amounts transferred OUT of the country by thieves?

[Sweet_Pea]

I was reading an article in the Tunisian press that said 13b euros leaves europe each year through formal and informal means. I don't know how they can estimate for informal since it's hardly likely that people will tell exactly how much they hide in baby power can or how much they gave to their son's father-in-law's brother to take back home and exchange through the guy next door.

The most interesting thing was that most of the money was spent on household expenses

[La-Casbah_com]

i tell u what, with all the foreign algerians, there is big money being pumped into algeria, property, cars, electronics, i feel sorry for some of these poor homegrown algerians.

[Sweet_Pea]

There is more money than you know and not just what's being sent back by expatriates. I do too to some extent, not just for Algerians though, but, the good thing is that regardless of who is putting the money into the country, it trickles down. They may have to work for it (if they can find jobs) but it's there.

[-thetruth_]

hamdolilah . that is very good news. we need to see more. I pray to God that our money that was stolen by the French /Spanish will come back to maghreb in form of inverstments etc....

[Ghazala]

Trickle down is right. Trickle very slow. Or maybe dry up quick & never get near the bottom. The poor never get the money; its Dog eat Dog in Morocco.