MONEY sent home by Filipinos working abroad may have grown faster than expected in the first month of the year, the Philippine central bank said."We are projecting 6 percent for the whole year, but for the initial data I have, it looks like the figure for January could be in excess of the projection for the year," Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said.
Remittances by overseas Filipino workers (OFW) continue to grow despite a slowdown in economic activities—something Tetangco ascribed to the strong demand for Filipino workers abroad.
The major sources of remittances last year were the US, Canada, Saudi Arabia, United Kingdom, Japan, Singapore, UAE, Italy and Germany. Full Story
