2022 remittances climbed to record $32.54b READ MORE:
skilled Filipino workers overseas as global economies continued to recover from the impact of the pandemic, latest data from the Bangko Sentral ng Pilipinas show.
Data showed that in December 2022, cash remittances coursed through banks went up by 5.8 percent to an all-time high of $3.16 billion from $2.99 billion a year earlier, as receipts from both land- and sea-based workers registered strong growth. Personal remittances in December hit $3.49 billion, up by 5.7 percent from $3.30 billion recorded in December 2021.
“The sending of more remittances are also needed to cope up with higher inflation locally,” Ricafort said. Inflation reached 8.1 percent in December and accelerated further to 8.7 percent in January.
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Remittances from overseas Filipinos up 5.7% in December 2022Personal remittances from overseas Filipinos reached $3.49 billion in December 2022, rising by 5.7 percent from the $3.30 billion recorded in the same month in 2021. Data from the Bangko Sentral ng
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Personal remittances hit record-high of $3.49B in December 2022 —BSPRemittances from Filipinos abroad grew to a record-high in December last year on the back of increase in demand for foreign workers overseas due to reopening of economies, data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed.
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OFW remittances hit new high in 2022 amid surging inflationING Bank Manila senior economist Nicholas Mapa says OFW remittances 'help offset what is now turning into a cost-of-living crisis in the Philippines.'
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Cash remittances total $32.54 B in 2022Cash remittances sent home by Overseas Filipinos (OF) reached $32.539 billion in 2022, up by 3.6 percent from 2021 of $31.418 billion.
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Remittances hit record high in 2022 - BusinessWorld OnlineCASH REMITTANCES hit a record high in 2022, as overseas Filipino workers (OFWs) sent more money to their families who are struggling with soaring prices. Money sent by OFWs through banks jumped by 3.6% to $32.54 billion last year, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday. It exceeded the […]
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