The Philippines: Remittances jump 3.2% in Mar 22

• MONEY SENT HOME by overseas Filipinos rose by 3.2% in Mar 22, reflecting improved economic conditions in many host countries as pandemic restrictions eased.
• The Mar 22 remittance growth is also the fastest in three months or since the 3.3% rise in Dec 21.
• In 1Q22, cash remittances rose by 2.4% y/y to USD7.77bn, from USD7.59bn in 1Q21. This was mainly due to higher inflows from the United States, Japan, Singapore, Taiwan, and Saudi Arabia.
• The BSP expects remittances to grow by 4% in 2022.

External Link : https://www.bworldonline.com/top-stories/2022/05/17/448839/remittances-jump-3-2-in-march/