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
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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