Remittances to Philippines reach nine-month highest level
Money s ent home by Filipino migrant workers in September this year hit
a record growth since December 2012, reaching 1.94 billion USD, up 5.3
percent over the same period last year, according to the Philippines’
Central Bank (BSP).
Money s ent home by Filipino migrant workers in September this year hit
a record growth since December 2012, reaching 1.94 billion USD, up 5.3
percent over the same period last year, according to the Philippines’
Central Bank (BSP).
In the first nine months of the year, remittances to the country reached 16.5 billion USD, a year-on-year rise of 5.8 percent. The money sent home in the period was mostly from the United States, Saudi Arabia, the United Kingdom, the United Arab Emirates, Singapore, Canada and Japan.
The growth is attributed to the demand for skilled and professional Filipino manpower in the service, production and engineering sectors.
The BSP expects the figure for the whole year to grow 5 percent to 22.5 billion USD. The figure in 2012 reached 21.39 billion USD, up 6.3 percent against the previous year.
Philippine Minister of Economics and Planning Arsenio Balisacan said the remittances still increase in spite of the global economic crisis, contributing to maintaining the domestic consumption expenditure and improving the country’s export weaknesses.
He added that the Government’s yearly target of a growth between 6-7 percent is within reach although devastation caused by Storm HaiYan in the country’s central region can slow down its economic growth.-VNA
In the first nine months of the year, remittances to the country reached 16.5 billion USD, a year-on-year rise of 5.8 percent. The money sent home in the period was mostly from the United States, Saudi Arabia, the United Kingdom, the United Arab Emirates, Singapore, Canada and Japan.
The growth is attributed to the demand for skilled and professional Filipino manpower in the service, production and engineering sectors.
The BSP expects the figure for the whole year to grow 5 percent to 22.5 billion USD. The figure in 2012 reached 21.39 billion USD, up 6.3 percent against the previous year.
Philippine Minister of Economics and Planning Arsenio Balisacan said the remittances still increase in spite of the global economic crisis, contributing to maintaining the domestic consumption expenditure and improving the country’s export weaknesses.
He added that the Government’s yearly target of a growth between 6-7 percent is within reach although devastation caused by Storm HaiYan in the country’s central region can slow down its economic growth.-VNA
You should also see
PM asks for prompt actions to fix consequences of serious workplace accident in Yen Bai
Prime Minister Pham Minh Chinh on April 22 signed a dispatch asking for prompt actions to fix the consequences of a serious workplace accident that happened in a cement factory in the northern province of Yen Bai the same day, as well as measures to support victims.
See more
World
Thailand re-considers tourism tax
Thai tourism operators are urging the Thai government to seriously consider measures to tackle overtourism. One of the proposed measures is a tourism tax of 300 baht (8.11 USD).
World
Ten crew members killed after two Malaysian navy helicopters collide
Ten people have died after two navy helicopters collided in mid-air during a military rehearsal for a Royal Malaysian Navy parade.
World
Indonesian Constitutional Court rejects petitions against presidential election results
The Indonesian Constitutional Court on April 22 rejected all petitions regarding the country’s presidential election results filed by two presidential candidates - Anies Baswedan-Muhaimin Iskandar and Ganjar Prabowo-Mahfud M.D.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Malaysian official urges collective efforts in plastic waste fight
A Malaysian official has underlined the importance of collective efforts, particularly by the public, in promoting the use of reusable bags and reducing single-use plastics in the fight against plastic waste.
