Drop in March OFW remittance ‘seasonal, reversible’ – Rep. Herrera-Dy


THE nearly 10 percent drop in overseas Filipino workers’ remittances last March is seasonal and reversible, and that the OFW repatriations from Kuwait was only partly contributory to the decline.

Bagong Henerasyon Party-list Rep. Bernadette ‘BH’ Herrera-Dy cited this in reaction to the Bangko Sentral’s latest data in which the total cash transfers from all countries in March this year were only $2.36 billion.

In March 2017, the total cash remittances was relatively higher at $2.615 billion.

Herrera-Dy, chairman of the Committee on Women and Gender Equality, noted that OFWs usually send remittances on various occasions.

“Ang mga OFW natin ay madalas magpadala ng pera tuwing may mga okasyon tulad ng graduation, enrollment, at Pasko, kaya sa mga buwan na meron niyan dumarami ang remittances,” said Herrera-Dy.

“Household needs because of school graduations and enrollment make OFW send more cash to their families in April, May, and June,” she added.