The Department of Labor and Employment (DOLE) expects global deployment and total remittances of overseas Filipino workers (OFWs) to hit above target for the rest of 2007.Labor Secretary Arturo D. Brion said that with strong employment opportunities abroad, deployment of OFWs could breach the one-million mark and total remittances could hit the US$ 14-billion level by December.
Deployment of workers overseas already hit the one-million mark in 2006 while remittances reached $12.8 billion. The Bangko Sentral ng Pilipinas has been expecting remittances to grow by 10 percent and reach $14.7 billion by the end of 2007 and $15.4 billion in 2008.DOLE records show that in June, deployment was already over 500,000, distributed in more than 190 destinations worldwide. He said, deployment reached 725,999 on August 31, representing more than two-thirds (72.6 percent) of the 1-million target. [Read more]
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