World | Philippines

Remittances from overseas Filipinos rise 8.6 per cent

Continued strong demand for Philippine workers and a wider access to financial products and services for wiring money as the reasons for sustained growth

  • AP
  • Published: 11:42 November 16, 2009

Gulf News
  • Image Credit: Gulf News

Manila: Filipinos abroad sent home $1.44 billion in September, up 8.6 per cent from a year ago as continued strong global demand for Philippine labour boosted remittances.

Central bank Governor Amando Tetangco said Monday the September figure brought total remittances for the first nine months to $12.79 billion, up 4.2 per cent from the same period last year.

He cited continued strong demand for Philippine workers and a wider access to financial products and services for wiring money as the reasons for sustained growth in remittances.

Tetangco said remittances could rise further in the near term because massive damage from recent back-to-back typhoons could encourage overseas workers to send more money to their families for rebuilding efforts.
 

  • Rate this article
  • Average reader rating (0 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Philippines

  1. Philippine troops kill militant commander

  2. Moro faction accepts Iran offer to join contact group

  3. New law criminalises child pornography

  4. State, rebels want Saudi and Turkish observers

All articles in Philippines

More from World

Popular in World

More from world

News Editor's choice