August Remittances Up by 16.3%

Remittances surged 16.3 percent to $2.32 billion in August from $1.99 billion in the same month last year, the fastest growth in more than two years after it jumped 16.6 percent in March 2014. The increase resulted in a 4.6-percent expansion in the amount of money sent home by Filipinos abroad to $17.64 billion in the first eight months from $16.87 billion in the same period last year. Finance officials attribute the increase to base effects,…

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