Tingog.com

I think that some Filipinos do not see the big effect that Overseas Filipino Workers have on The Philippines. I mean, individually we may think that it’s great for their families or the OFWs themselves. But, our biggest investors are becoming our very own kababayans. That makes me happy a bit. Actually, a whole lot. I am always amazed at how much each OFW sends back to their families. It just shows that our heart, no matter where we are in the world, always go back to our homeland, our Perlas ng Silangan.

The president reiterated this sentiment yesterday in a statement. Press Secretary Bunye said that “The President extols our overseas Filipino workers who continue to be a strong driving force of our economy by their feats of excellence and hard work.”

Bangko Sentral ng Pilipinas (BSP) reported that OFW remittances continued to grow at a double-digit rate at end-September because of the high demand for skilled workers abroad and their improved access to more efficient modes of remittance transfers.

What exactly are the exact figures? Hold on to your seat because the following figures are in dollars, not pesos.

The BSP said remittances rose by 14.4 percent to $9.11 billion in the first nine months of the year. For September alone, OFW money transfers grew 7.6 percent to $1.013 billion.

“The upbeat mood of our people has been an inspiration for President Arroyo who is very focused in pushing forward her road map for global economic competitiveness,” Bunye said.

“We should sustain this confidence reaped by Filipinos the world over and at home,” he added.