MREMRE transfers: growth should remain sustained in 2022

MRE transfers: growth should remain sustained in 2022

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The increase in transfers of MRE recorded this year, despite the health crisis, should continue in 2022. An increase that specialists attribute to the recovery of the economy but especially to the improvement of the epidemiological situation on a global scale.

Money transfers from Moroccans living abroad (MRE) would remain supported this year with a rate of 7.6%, to reach more than 73.3 billion dirhams, and 2.8% or 75.4 billion dirhams, in 2022, reports TelQuel, reporting data from the Office des Changes.

To explain this constant progression, Hassan Boulaknadel, director of the Foreign Exchange Office, indicated that Moroccans everywhere have always shown solidarity in difficult times. Faced with the crisis which has impacted several sectors of the country’s economy, the MRE have once again expressed their attachment to the kingdom, he noted, adding that this important financial windfall constitutes a real source of income for many people. many Moroccan families.

In addition to this exceptional outpouring of mutual aid from the MRE, the official stressed that the closure of borders and restrictions on movement between countries have also contributed to the flow of transfers from Moroccans around the world. The latter, unable to travel to help their families, because of the difficulties in getting around, preferred to make money transfers.

Budget support measures in host countries, the generalization of transactions digitally rather than in cash, also strongly contributed to this performance.

Taking into account the success of the vaccination campaign in the world and in Morocco, the office expects transfers to continue on the rise. However, he argues, the forecasts remain surrounded by an exceptionally high level of uncertainty related to the course of the pandemic.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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