Remittances Up 5% in 2016

Remittances went up by five percent to a new record high of $26.9 billion last year from $25.61 billion in 2015. This was faster than the four percent growth target. For   December alone, remittances climbed 3.6 percent to a new monthly record of $2.56 billion. Major sources last December were the US, Qatar, and Japan. Remittances from the over 10 million Filipinos deployed abroad account for about 9.8 percent of the country’s gross…

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