... despite record OFW remittances

By Maricel Burgonio

Oct 16, 2004 4:29 am

THE Bangko Sentral ng Pilipinas expects to exceed its target for remittances from overseas Filipino workers this year on the back of strong demand for professional and skilled workers abroad.

In a briefing, Bangko Sentral Governor Rafael Buenaventura said the robust growth in August remittances has brought the cumulative level in the first eight months to $5.5 billion, up 9.4 percent from the $5.1 billion recorded in the same period last year.

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