Remittances from overseas Filipino workers expected to rise in 09

Remittances to grow 10% in 2009

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Remittances from Filipinos overseas are likely to continue climbing in 2009, and should be 10 percent above the 2008 level despite the global credit crisis, a senior official of the Bangko Sentral ng Pilipinas said on Friday.

“I think a 10 percent growth in remittances will continue to be realistic in 2009,” deputy governor Diwa Guinigundo said at a business form.

The central bank has previously said 2008 remittances are likely to be about 15 percent higher than the $14.45 billion in 2007.