MANILA, 21 September — Filipinos working abroad (OFWs) remitted $4.1 billion in the first half of the year, up 43.2 percent from the same period last year, the central bank said yesterday.
In June alone, OFWs sent a total of $525 million to their families in the country.
Deputy central bank Governor Amando Tetangco said the improved dollar receipts have been helping meet dollar requirements of companies in the country, easing pressure on the local currency during volatile periods. The peso has depreciated to an average of 52 to the dollar in past weeks due to regional and domestic political and economic uncertainties.
Tetangco said the dollar remittances were improving due to the country’s continued deployment of workers abroad, especially in the United States, the Middle East and Europe.
"The government continues to step up marketing missions to promote Filipinos’ skills abroad," he said. "Prospects are bright, with the expanded hiring of the United Kingdom in the medical field."
In an expression of gratitude, the Department of Labor and Employment (DOLE) yesterday launched the First International Employers Awards (FIEA) to honor outstanding foreign employers of Filipino workers.
"With the First International Employers Awards, the Philippine government serves notice to foreign employers that we recognize their contribution to our overseas employment program through their continuous hiring of our overseas workers," Labor Secretary Patricia Sto. Tomas said.
The awards will be given out by Sto. Tomas at a two-day gathering of prestigious employers of OFWs and seafarers in November.
