(Ecofin Agency) - Morocco attracted MAD5.8 billion dirhams (around $580 million) in foreign direct investment (FDI) in the first quarter of 2024, marking a 56.2% increase compared to the same period in 2023. Figures were reported last week by the Moroccan Exchange Office.

The latter revealed that this upward trend is expected to continue in the coming months as numerous investment agreements signed in recent months materialize. The source also noted that officially, travel receipts reached MAD23.7 billion ($2.36 billion) between January 1 and March 31, 2024, compared to MAD24.9 billion during the same period in 2023, representing a 5.1% decline.

Meanwhile, remittances from Moroccans living abroad (MRE) stood at MAD27.4 billion ($2.73 billion) during the first three months of the current year, almost the same during the same period the previous year.