Remittance growth in the Philippines slowed to 2.9% in May
Provided by Philippine Daily Inquirer.
MANILA, Philippines - After growing at the highest rate in over two years in April, cash remittances from Filipinos overseas posted a slower expansion in May, the Bangko Sentral ng Pilipinas (BSP) reported.
Money sent home by Filipinos abroad through banks grew by 2.9 percent year-on-year to $2.66 billion.
READ: April remittances grew 4%, highest in over 2 years
That pace of expansion was slower than the 4-percent annual growth recorded in April.
The BSP forecasts a 2.8-percent annual growth in remittances for the entire 2025 to $35.5 billion.
(2025/07/15-10:35)
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