Philippines: Overseas remittances rise 16 percent in August
Overseas Philippine workers sent home 2.6 billion USD in August, a surge of 16 percent year on year, according to bank sources.
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Overseas Philippine workers sent home 2.6 billion USD in August, a surge of 16 percent year on year, according to bank sources.
Foreign investment pledges approved by the Philippines’ investment promotion agencies increased by 31.2 percent to 245.2 billion PHP (5.2 billion USD) last year.
Remittances sent home by overseas Filipino workers (OFWs) hit a new high in 2015 with 28.5 billion USD as of the end of December, according to the Central Bank of the Philippines (BSP).
Personal remittances by overseas Filipino workers grew 5.3 percent to 13.37 billion USD in the first six months of 2015, according to the Manila Times.
