Philippines overseas remittances keep rising

Remittances back home from millions of Filipinos working abroad rose
2.8 percent year-on-year in August, the central bank said on
Thursday, bolstering expectations for economic growth. The total of
1.4 billion dollars in August brought remittances for the first
eight months of the year to 11.34 billion dollars, a 3.7 percent
increase from the same period last year, the central bank said in a
statement. "Remittances from Filipino workers overseas continued to
underpin the resilience of the economy, remaining a stable source of
foreign exchange for the country," the statement said. It credited
the remittances to the steady deployment of workers abroad and the
improved services and channels for sending the money home,
particularly through local banks.