The number of overseas Filipino worker (OFW) beneficiaries that allocated part of their remittance proceeds to savings picked up in the first quarter of this year, according to the Bangko Sentral ng Pilipinas (BSP). In its latest Consumer Expectations Survey, the BSP said the percentage of OFW households that allocated a portion of their remittances to savings rose to 50.4 percent from 44.8 percent in the fourth quarter of 2009.
OFW households that invested part of their remittance proceeds, however, fell to 5.8 percent from 7.1 percent in the final three months of last year.
Of the 534 respondents that benefited from remittances in the first quarter, 97 percent spent part of their money on food and other household needs, 69.5 percent on education expenses, 56.7 percent on medical expenses and 48.5 percent on debt servicing.
The percentage of OFW households that used remittances to purchase consumer durables and motor vehicles was broadly steady at 30 percent and 6.6 percent, respectively.
Those that apportioned part of their remittances for amortization or full payment of houses increased to 15
percent from 10 percent the previous year.
Households that set aside for debt payments fell to 48.5 percent from 49.2 percent.
The survey showed that more households expect their expenditures on basic goods and services to go up in the second quarter partly because of the anticipated increase in prices and improvement in household income.
–LAILANY P. GOMEZ, Manila Times
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!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
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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