Morocco's FDI shrinks by 47.2 pct in Q1

RABAT, May 2 (Xinhua) --The foreign direct investment (FDI) in Morocco dropped by 47.2 percent in the first quarter of 2019, the Foreign Exchange Office said Thursday.

Morocco attracted FDI worth 324 million U.S. dollars between January and March, down from 614 million dollars in the same period of 2018, it said.

In 2018, the total FDI in Morocco hiked by 28.6 percent to 3.5 billion dollars.

During the first quarter of 2019, Morocco's tourism revenues slightly increased by 0.2 percent to 1.67 billion dollars, while remittances from some 5 million Moroccan expatriates dropped by 5.7 percent to 1.56 billion dollars.

Tourism revenues and expatriates' remittances are the main sources of Morocco's foreign currency reserves. Enditem