Moroccan expatriates' remittances to reach $2 billion

The overall 1999 remittances of Moroccan expatriates are expected to reach $2 billion, the Moroccan Banque Centrale Populaire (BCP) said.

The amount will represent a 5.8 percent increase over 1998, the BCP said, adding that the remittances were above $200 million during the first three months of 1999.

The Moroccan community settled abroad is estimated at 2 million souls.

The BCP attributed the rise in remittances to the positive juncture in the European Union countries, where growth rate is to attain 2.4 percent.