Jan. 2025 remittance growth slowed to 2.9%
Remittances are seen to continue fueling economic growth.
MANILA, Philippines – Remittances posted a slower growth in January, as the typical surge in cash transfers during the holiday season waned.
Data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks grew by 2.9 percent year-on-year to $2.92 billion in January.
This was the slowest growth in remittances in three months, or since October 2024’s expansion of 2.7 percent.
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