OFW Remittances Increase by 4% in April
Manila: Money sent home by overseas Filipinos reached USD2.66 billion in April this year, reflecting a 4 percent increase from the USD2.56 billion recorded in April last year, according to data released by the Bangko Sentral ng Pilipinas (BSP). According to Philippines News Agency, the growth in cash remittances during this month marked the highest recorded since a 5.8 percent expansion in December 2022. For the first four months of the year, cash remittances amounted to USD11.11 billion, representing a 3 percent increase from the USD10.78 billion noted between January and April 2024. “Higher growth of remittances from the United