4.7% increase in Moroccan expatriates' remittances in January, February 2005

Moroccan expatriates' remittances stood at MAD 6.02b (about Euro 602m) in January and February 2005, achieving an increase of 4.7% compared to last year's performance in the same period.

The "Office des Changes" (exchange office), Moroccan authority in charge of supervising exchange rates and flows, indicates that this amount represents an upsurge in remittances of 23.8% in comparison to the average transfers during the same period in 2000 through 2004.

In 2004, receipts of Moroccan expatriates rose by 7.1% compared to 2003.

The Office also says "travel" related revenues in the first two months of 2005 totalled MAD 5.47b (about Euro 547m), i.e., an increase of 5% in comparison to the same period of 2004.