Bank transfers between Morocco and other countries rise by 5%
Bank transfers between Morocco and other countries amounted to $18.7 billion (MD169 billion) in the first half of 2004, compared to $17.8 billion (MD161 billion) during the same period last year, say a 5 percent rise, the Exchange Office said.
According to MAP, the transfers, which posted a balance deficit of $222 million (MD2 billion Dhs) at the end of June 2003, registered a surplus of $1.16 billion (MD10.53 billion) at the end of June 2004, said the Office, ascribing the surplus to a 12.9% rise of inflow and a 2.8% decrease of outflow.
The inflow increase was posted mainly in Euro receipts which rose 14.2%, netting $6.2 billion (DM56 billion) which represents 62.4% of total incoming transfers.
Dollar bank transfers to Morocco grew by 9.8%, going up from $3.05 billion (DM27.53 billion) to $3.3 billion (DM30.22 billion). Meanwhile, outflow bank transfers in dollars dropped from $3.7 billion (DM33.68 billion) to $3.4 billion (DM31.4 billion DH), a decline of 6.8%. (menareport.com)
© 2004 Mena Report (www.menareport.com)