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
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
