Thomson FinancialLast updated 07:17pm (Mla time) 11/15/2007
MANILA, Philippines -- Official remittances from Filipinos working overseas rose in September by 12.4 percent from a year earlier to $1.1 billion, picking up from August's pace of close to 11 percent, data showed on Thursday.
Inflows in the first nine months of the year increased 15 percent to $10.5 billion over a year earlier, the central bank figures showed.
Money sent home from more than eight million overseas-based Filipinos, around 10 percent of the population, has helped drive economic growth to 20-year highs, and is one of the most important components of the domestic economy. [Read more]
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