At Least 9K Jobs Up For Grabs At Labor Day Fair In Western Visayas

Higit 9,000 trabaho ang nakalaan sa Labor Day Fair. Mainam na pagkakataon para sa mga career shifters sa Western Visayas.

Tacloban Mangrove Park Eyed As Urban Green Space

Ang mga plano para sa urban green space sa Paraiso ay layuning pataasin ang kaasalan sa kapaligiran at pagtugon sa hamon ng climate change sa Tacloban.

Eastern Visayas Pushes For Muslim-Friendly Tourism

Kasama ang DOT, ang Eastern Visayas ay naglalayong maging kaakit-akit na destinasyon para sa mga Muslim sa pamamagitan ng halal culinary offerings.

New Law Giving Free Legal Aid To MUPs Signed

Sa ilalim ng bagong batas, mas pinapangangalagaan ang mga karapatan ng mga MUP. Tinatampok ng administrasyon ang kanilang tapat na serbisyo.

Overseas Filipino Workers Remittances Up In January

Personal remittances from overseas Filipino workers increased by 2.7 percent in January this year, as reported by the Bangko Sentral ng Pilipinas.


Overseas Filipino Workers Remittances Up In January

27
27

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

Personal remittances from overseas Filipino workers (OFW) went up by 2.7 percent in January this year, the Bangko Sentral ng Pilipinas (said).

Data released by the BSP over the weekend showed that personal remittances from overseas Filipinos amounted to USD3.15 billion in January from USD3.07 billion in the same month last year.

“The increase in personal remittances in January 2024 was driven by increased remittances from land-based workers with work contracts of one year or more and sea- and land-based workers with work contracts of less than one year,” the BSP said.

The BSP said cash remittances coursed through banks increased by 2.7 percent to USD2.84 billion in January 2024 from USD2.76 billion a year ago.

The growth in cash remittances in January 2024 was primarily due to increased receipts from both land- and sea-based workers.

“The growth in cash remittances from the United States, Saudi Arabia, the United Arab Emirates (UAE), and Singapore contributed mainly to the increase in remittances in January 2024,” the central bank said.

Top sources of remittances during the month include the United States (41.8 percent), Singapore (7.3 percent), Saudi Arabia (6.0 percent), Japan (5.8 percent), and United Kingdom (4.8 percent).

“The Philippine remittances from overseas workers have consistently been the fourth largest in the world after India, Mexico, and China, amounting more than USD40 billion per year, a sign of resilience and has always been a major growth driver for the Philippine economy for many years,” Rizal Commercial Banking Corporation chief economist Michael Ricafort said in a comment on Saturday.

Ricafort said in the coming months, modest growth in OFW remittances could still continue as OFW families still need to cope up with relatively higher prices locally that would require the sending of more remittances.

He, however, noted that offsetting risks factors include higher inflation and a possible economic slowdown in host countries which could lead to some jobs losses. (PNA)