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Foreign direct investment down 15% in Morocco

Staff writer |
Foreign direct investment (FDI) in Morocco amounted to 14.23 billion Moroccan dirhams ($1.7 billion) from January to July.

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This compared to 16.76 billion (nearly $2 billion) in the same period last year, down 15%, according to data disclosed by Moroccan government.

Remittances from Moroccan expatriates to their native country amounted to 33.16 billion dirhams ($4 billion), as against 33.1 billion dirhams ($3.95 billion) year-to-date through July. There was a slight increase of 0.2%, according to a preliminary report on the foreign sector during the period.

Foreign expenditure during trips to Morocco, in turn, amounted to 30.94 billion dirhams ($3.69 billion), as against 29.66 billion dirhams ($3.54 billion) in the same period last year, up 4.3%.

On the other hand, spending by Moroccans during foreign trips stood at 6.65 billion dirhams ($793 million), as against 6.05 billion dirhams ($721.5 million) in the first seven months of 2013, an increase of 9.8%.

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