Tag Archives: Philippine economy

OFW sent record remittances in 2021

Philippine Peso

Philippines ‘modern-day’ heroes hit an all-time high record as remittances transferred via the banking networks grew by 5.1% from $33.19 billion in 2020 to $34.88 billion in 2021. The recent growth rate, however, was slightly lower than the 6% growth target of the Bangko Sentral ng Pilipinas (BSP) on expectations of higher-than-anticipated recovery after contracting […]

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