MANILA, Philippines (Xinhua) — Remittances from overseas Filipino workers (OFWs) coursed through banks rose 6.7 percent on year to a record high of 1.5 billion U.S. dollars in October on continued global demand for Philippine labor, the Philippine central bank reported Tuesday.
Likewise, the damages wrought by typhoons Ketsana and Parma also forced most OFWs to send more to their affected families. This pushed OFW remittances in the January to October period to increase by 4.5 percent to 14.3 billion U.S. dollars.
The major sources of remittances are the U.S., Canada, Saudi Arabia, U.K., Japan, Singapore, United Arab Emirates, Italy, and Germany.
“The continued deployment of Filipino workers abroad, particularly skilled and higher-paid workers, has provided support to the steady flow of remittances over the ten-month period,” Philippine Central Bank Governor Amando M. Tetangco Jr. said in a statement.
“Higher transfers to families whose properties were damaged by typhoons Ketsana and Parma that hit the country in late September and early October contributed to the rise in remittances,” he added.
Despite the recent financial problems in Dubai where there is a fairly large concentration of Filipino workers, Tetangco was optimistic of sustained deployment of Filipinos in the Middle East region in general as there’s demand in the construction and health care sectors.
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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