Central Bank of the Philippines

Special Philippines posts 15 percent drop in cash remittance from Middle East

Philippines posts 15 percent drop in cash remittance from Middle East

  • There has been a 15 percent decrease in remittances from Overseas Filipino Workers (OFWs) in the Middle East, with fund transfers from Libya and Israel falling the most at 73 percent and 61 percent — Central Bank of the Philippines
  • Remittances from Kuwait fell by 20.4 percent despite resumption of OFW deployment; Bahrain showed negative 22.9 percent; transfers from Oman dropped by 38.3 percent; and Saudi Arabia showed a slide of 10.4 percent
By Ellie Aben ·