The amount of money sent home by Filipinos overseas is seen to grow by as much as 10 percent in November, according to First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific (UA&P).
In a study titled “RP Economy More Firmly on Goldilocks Mode,” FMIC and UA&P pointed out that remittances would continue to grow since there is a stable demand for professional and skilled Filipino workers abroad. FMIC is the investment banking arm of Metrobank.
“We see that US dollar remittances will continue its growth pace. OFWs’ US dollar remittances’ growth will probably accelerate to 10 percent by November. However, remittances in peso terms will only be slightly in the positive territory because of the peso appreciation,” FMIC and UA&P said in a joint study released to media Monday.
In 2009, remittances went up by 5.4 percent to a new record level of $17.348 billion last year from $16.426 billion a year earlier, government records showed.
OFW remittances hit a new monthly record high of $1.578 billion in May, making the amount reach $7.44 billion in the first five months of the year.
Earlier, the Philippine Overseas Employment Administration reported that approved jobs aggregated 302,844 in the first half of the year.
Main country sources of remittances in the first five months of the year included the US, Canada, Saudi Arabia, United Kingdom, and Italy, accounting for about 81.5 percent of the total OFW remittances. —JE/OMG, GMANews.TV
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
