MANILA – More households of overseas Filipino workers are saving their remittances and less are spending on medical needs and education, the Bangko Sentral ng Pilipinas (BSP) said.
The survey conducted by the BSP showed that the percentage of OFW-dependent households allocating portions of their remittances to savings rose to 42.5 percent in the first quarter of 2013 from 39.5 percent in the fourth quarter of last year. It also showed that the proportion OFW beneficiaries who invested the remittances inched up to 5.8 percent in the first quarter from 3.1 percent in the fourth quarter of 2012.
Households that used OFW remittances to buy consumer durables and motor vehicles also went up to 28.4 percent from 26.2 percent and 10.3 percent from 7.7 percent, respectively.
In contrast, the percentage of OFW-dependent families paying debt during the comparative periods went down to 42.4 percent in from 44.1 percent.
Out of the 464 OFW households surveyed the BSP, 96.6 percent used the remittances for food during the first quarter, up from 95.4 percent in the fourth quarter of last year.
This was followed by education at 67.2 percent in the first quarter, down from 68.8 percent in the fourth quarter of last year. The percentage of those paying for medical bills also dipped to 59.1 percent from 65.5 percent.
Data from BSP showed that remittances grew 8.4 percent to $1.9 billion in January this year from $1.7 billion last year.
Preliminary data from the Philippine Overseas Employment Administration (POEA) revealed that the number of OFWs sneding money back home increased by seven percent to 1.8 million from 1.69 million in 2011.
For the full-year of 2012, remittances reached $23.8 billion, higher by 6.4 percent compared to the level recorded in the same period of the previous year. –Darwin G Amojelar, InterAksyon.com
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
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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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