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!
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September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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