The latest data shows a modest growth in cash remittances sent by Filipinos abroad in June, indicating continued support to the home economy from overseas workers.
Official figures reveal that cash remittances from Filipinos working overseas grew by 1.7% in June compared to the previous year. This steady increase reflects the ongoing contribution of overseas Filipino workers (OFWs) to the Philippines’ economy through money transfers. Remittances are a crucial source of foreign exchange and help support millions of Filipinos domestically. While the growth rate is moderate, it indicates resilience in remittance inflows despite global economic uncertainties. The government continues to promote policies facilitating these overseas transfers to ensure stable financial support for families back home and to bolster national development efforts.
Sources referenced:
- https://news.google.com/rss/articles/CBMimAFBVV95cUxPenZEYmhVb2Rxb3JOa2U0NVVWRXI1S0VacENVdGo1akl4cTIyT2FQUWJpUmZQZWVpWExMVjZ6dHhNMjB0MktpQm5xTUhORTJhbTJ5MW1xYVlFWkh5TUlVY0swUmdxU0F1cWV1WVlnamp5YmpJb0lIUzFiZkJUcnNaZ0I0X29ielZNZFhrVGpvNEVjYzFvQVV6NA
