How MRE transfers boost the Moroccan economy

Since 2003, Morocco has celebrated National Migrants Day every August 10. Established by King Mohammed VI, it provides an opportunity to highlight the contribution of Moroccans living abroad (MRE) to the economic, social and cultural development of the kingdom.

Through the remittances they make to Morocco, MREs contribute to Morocco’s economic development. According to updated data from the Foreign Exchange Office, MRE remittances reached a record level in 2023, standing at 115.3 billion dirhams compared to 110.8 billion dirhams in 2022, an increase of 4.1%, with an average annual growth rate of these transfers of 19.2% between 2020 and 2023.