Middle East Economic Survey

VOL. XLVII

No 34

23-August-2004

MOROCCO

BUDGETS AND REVENUES

Remittances Increasingly Important To Moroccan Economy, Says IMF Study

Remittances to Morocco from workers living abroad, mainly in France, Spain and Italy, are playing an increasingly important role in the countrys finances, according to a study by Jacques Bougha-Hagbe of the IMFs Middle East and Central Asia department. Annual remittances have reached $3-4bn, equivalent to around 9% of GDP up from an annual...