Thursday, June 15, 2006

Over 2.5 million expatriates expected this summer in Morocco

Spanish authorities expect 2.7 million Moroccan expatriates living in Europe and some 700.000 cars to cross their country and the Strait of Gibraltar on their way to native country, Morocco, for summer holidays.

Supervised by both countries' authorities, this year's Transit Operation started on June 15 and will last till September.

Moroccan expatriates' remittances for the first quarter of 2006 jumped 13.8% more than last year's, according to figures released by the Office des Changes.

The remittances, which amounted MAD 13.7Bn, over USD 1.5Bn, represent a rise of 28.8% in comparison to the average revenues of Q1 of the past five years, said the Office.


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