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11th April 2016 #1
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OFW Remittances Reach $25.8B in 2015
Lee C. Chipongian
Manila Bulletin
http://www.mb.com.ph/ofw-remittances...3b6eB4ZhCQb.99
"Cash remittances sent via the formal banking networks by overseas Filipino workers (OFWs) amounted to $25.76 billion in 2015, up 4.6 percent from $24.63 billion in 2014, the Bangko Sentral ng Pilipinas (BSP) yesterday reported."
I came across this on the Commision on Filipinos Overseas website. The article states that 1.8 million Overseas Fillipino workers sending home nearly $26 billion a year. That is a staggering amount of money. This has got to be having a huge impact on the Philippine economy.
Source:-
http://www.cfo.gov.ph/index.php?opti...new&Itemid=840
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11th April 2016 #2
Yes also on my pocket....
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11th April 2016 #3
Seems everything shows as remittance, I have three pensions paid over here and they show on statement as remittance.
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12th April 2016 #4
- Join Date
- Aug 2010
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- Marikina City
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My pensions too are remittances.
The OFW remittances are a huge input to the economy.
So many folks here with big spending power without any input to the economy in the way of employment or income tax.
I could easily get into a rant on this.............................but I'll not.........................
Not this time anyway.
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