Remittance growth slows down
FILE PHOTO
MANILA, Philippines—Growth in the amount of money sent home by overseas Filipino workers slowed down in February despite sustained demand for skilled labor in developed economies like the US, Japan, and Canada.
Remittances from OFWs rose by 5.6 percent in February to P1.79 billion, the Bangko Sentral ng Pilipinas reported Tuesday.
Article continues after this advertisement
The growth was slower, however, than January’s 5.9 percent growth. It was also the slowest growth rate since March of last year, when remittances increased by 4.2 percent.
FEATURED STORIES
The country is still on track to meeting the government’s remittance forecast of a growth of 5 percent this year.
RELATED STORY
Article continues after this advertisementRemittances hit all-time high in 2013
Remittances hit all-time high in November
January remittances up 5.9% to $1.8B
Your subscription could not be saved. Please try again.
Your subscription has been successful.
EDITORS' PICK
