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April 13, 2020 – 8:00 p.m. –
Moroccans of the world
Tourism receipts, remittances from Moroccans living abroad (MRE) and Foreign Direct Investment (FDI) could fall sharply this year. This is what a CDG capital management study shows on the impact of Covid-19 on the Moroccan economy.
–According to CDG Capital Gestion, transfers of MRE, the primary source of foreign exchange for Morocco, will not be spared by the coronavirus. Especially since more than half of MRE revenues, or 53%, come from France, Italy and Spain, among others, countries hard hit by the global health crisis.
CDG capital management forecasts a drop of -30% to -40% of these revenues, or between -19 billion DH and -26 billion DH. But this decline could be limited due to the measures put in place by the governments of the countries, in order to guarantee the survival of companies.
With regard to the tourism sector, the collective management company specializing in the financial markets forecasts a decline in travel receipts from – 40% to -80% in 2020, depending on the extent of the health crisis (3 at 6 months). The pandemic will also have repercussions on FDI. The CDG Capital subsidiary expects a 50% to 60% decrease in FDI flows in 2020.
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