Foreign currency savings in Morocco improve
Morocco, Economics, 9/11/1997

A source in the banking system in Morocco asserted that the foreign currency savings reached $4 million during the first half of the current year, which is enough to pay for importing the commodities and the different services for 6 months.

This number reflects a noticeable improvement in Morocco's situation, as there is an increase in the foreign currency savings, the revenue from tourism and foreign investment sectors, and in expatriate transfers. There is also a decrease in the trade balance deficit due to an increase in exports, many of which are phosphates and its derivatives.

Previous Stories:
  Memorandum from the opposition to King Hassan II   (9/9/1997)
  Moroccan Central Bank achieves positive results in 1996   (9/9/1997)
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