VOL. XXXVI

NO. 32

10-MAY-1993

Financial and Banking News

BUDGETS AND REVENUES

Morocco's Foreign Exchange Reserves Increase During 1992, But So DoesTrade Deficit

Morocco's Finance Ministry released figures on 3 May which show both a 21%increase in foreign exchange reserves for 1992 to $3.83bn and a 28.9% increasein the trade deficit to a total of $3.29bn for the year.

Emigrant workers remitted $2.1bn in 1992, an increase of 7.3% over theprevious year, and tourist receipts totalled $1.32bn, up 32.7%....