Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

Overseas Filipino Workers (OFW) Saving More

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Banko Sentral ng Pilipinas (Central Bank of the Philippines) says half of OFW families are saving more money remitted to them, rising 50 percent more than usual, while remittances allocated to investments decreased.

There are approximately 11 million Filipinos working in other countries or 11 percent of the population of the Philippines. In January, remittances from overseas Filipinos amounted to $1.4 billion, posting a year-on-year growth of 8.5 percent.

Read more at Manila Bulletin

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Written by Raffy Pekson II

March 27, 2010 at 7:42 pm

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