ate : August 15, 2008
Remittances from Filipinos abroad surged 30 percent in June to US$1.5 billion _ the highest monthly inflow since 1989, thanks to a rise in the number of overseas workers, the Philippine central bank said Friday.
The June figure brought the six-month remittance level to US$8.2 billion, up 17.2 percent from the same period a year ago, a bank statement said.
Central bank Gov. Amando Tetangco Jr. said the sustained rise in the number of Filipinos seeking employment overseas contributed to the robust figures.
Some 8 million Filipinos _ or nearly 10 percent of the population of about 90 million _ work overseas. Last year, they sent home US$14.45 billion. [Read more]
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