BSP: April remittances up 2.2%

Reuters, Inquirer.net
Posted date: June 15, 2009

MANILA, Philippines--Remittances from overseas Filipino workers, a key pillar of the country’s economy, reached $1.442 billion in April, up 2.2 percent from a year ago, the central bank said on Monday.

The inflows in April were slightly lower than the record $1.47 billion in March when remittances grew by an annual 3.1 percent.

Inflows for the first four months of the year climbed 2.6 percent from the same period of 2008.

The central bank expects remittances to stay flat this year from 2008's $16.4 billion total.