Foreign loans and investments drop, expats' remittances up in 1st quarter of 2003

Foreign direct investments and loans have regressed by 32% in the first quarter of 2003, compared to the amount of FDIs and loans Morocco attracted in the same period of 2002.

With 1.50 billion Dirhams (about US$ 163 million) recorded between January 1st and April 30, foreign direct investments and loans have dropped by 77.9% as compares to the average recorded in the same period over the last five years, says the exchange office.

Meanwhile, Moroccan expatriates' remittances increased by 10.5% in the said period to reach 11.25 billion Dirhams (US$ 1.2 billion). Transfers thus scored a 47.1% rise as compares to 1998-2002 average (7.65 billion Dirhams/US$ 831 million).