Remittances depend on global recovery

By Philippine News Agency

Jan 16, 2022 12:13 am

GROWTH of inflows from overseas Filipino workers (OFWs) will be driven by the recovery of other countries as coronavirus disease 2019 (Covid-19) infections rise anew.

On Friday, the Bangko Sentral ng Pilipinas (BSP) reported the 5.1 percent year-on-year jump of cash remittances in November 2021 to $2.502 billion while cumulative inflows increased by 5.2 percent to $28.43 billion.

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