MANILA, Philippines – Money sent home by overseas Filipinos grew 7.1% in February, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
Remittances for the month reached $1.4 billion, bringing the total for the first 2 months of 2010 to $2.8 billion, up 7.8% from the prior year.
Sea-based and land-based workers respectively sent 13.4% and 6.4% more money home in February.
The BSP attributed the strong inflow of remittances to the continued deployment of skilled Filipino workers and their wider access to formal money transfer channels.
“These factors support the optimistic outlook for the sustained growth in remittances throughout the year,” the central bank said.
Bulk or 82% of remittances coursed through local banks in February came from the US, Canada, Saudi Arabia, Japan, United Kingdom, Singapore, United Arab Emirates, and Italy.
The BSP expects remittances to climb 6% in 2010 after a 5.6% rise the previous year. Remittance inflows reached a record $17.3 billion in 2009.
Remittances drive consumer spending, which fuels more than two-thirds of the country’s gross domestic product. –abs-cbnNEWS.com
World Day for Safety and Health at Work
“Safety and health at work every day!”
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!
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Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
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Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
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