MANILA, Philippines: Money sent home by millions of Filipinos working overseas is forecast to hit a record US$14.1 billion (€10.9 billion) next year, the central bank said Monday.
The 2006 remittances are expected to reach US$13.4 billion (€10.4 billion), up from US$11.9 billion (€9.2 billion) last year, according to the Philippine Central Bank.
Deputy Gov. Diwa Guinigundo said that a slowdown in the global economy next year may affect demand for Filipino workers, which is already high at more than 8 million, or 10 percent of the population. [Read more]
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