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Foreign investment in Morocco up 15%

Staff writer |
Morocco was targeted by the equivalent of 16 billion dirhams ($1.64 billion) in foreign direct investment (FDI) from January to July this year, up 14.7% from last year, according to the country’s Exchange Office.

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The performance was the result of an inflow of 20.7 billion dirhams ($2.12 billion), up 18.2% from the first seven months of 2014, and of an outflow of 4.7 billion dirhams ($481.7 million), up 32%.

Remittances by Moroccan expatriates reached 35.2 billion dirhams from January to July ($3.6 billion), up 5.5%.

International travel spending had a surplus of 23.5 billion dirhams ($2.4 billion), down 4.9% from the first seven months of 2014. Spending by foreigners in Morocco reached 30.3 billion dirhams ($3.1 billion), down 3.1%, while spending by Moroccans abroad climbed 3.7% to 6.8 billion dirhams ($697 million).

The Moroccan Exchange Office also said the country ran a trade deficit of 23.9 billion dirhams ($2.45 billion) from January to July, down 20.5%. Exports increased 6.3% and imports dropped 7%.

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