Remittances Up, but Still Below Target

Remittances reached $2.19 billion in May, up 1.9 percent from $2.15 billion in the same period last year. For the first five months, cash remittances grew 2.9 percent to $10.86 billion from $10.55 billion in the same period last year. The government attributed the increase to the strong demand for skilled Filipino workers abroad after a total of 211,799 workers were deployed in the first five months. Last year, remittances went up 4.6 percent…

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