Friday, September 22, 2017

Sep 12 17, 4:45 pm

77-year-old woman died, robbed in Baguio

A 77-year-old woman was found dead in Baguio CIty on September 19 after an alleged thief hit her with a hard object. Lourdes Abalos-Teodoro’s child and grandchildren found her lying on the floor inside their house, ABS-CBN reported. Police reports showed that the...

69-year-old man in Ilocos arrested for raping minor

Authorities nabbed a 69-year-old man in Batac City, Ilocos Norte for raping a 14-year-old girl twice. Jose “Boy” Cuanang was arrested at his house on September 17 at Barangay Billoca in Batac City, ABS-CBN reported.   The report said the Regional Trial Court-Branch 18...

DOLE moves full issuance of OFW ID cards to October

The Department of Labor and Employment (DOLE) has moved the full issuance of the OFW ID card to October. Labor Secretary Silvestre Bello III said he has formed a task force that will come up with an implementing guidelines for the issuance of the much-hyped card...

More OFW families using remittances to invest, says Bangko Sentral

by | TOP STORIES

Aside from allocating the remittances they receive from their overseas Filipino worker (OFW) loved ones on food and household needs, more OFW households are using remittances to invest, according to the quarterly Consumer Expectation Survey (CES) conducted by the Bangko Sentral ng Pilipinas (BSP).

    The portion of remittances OFW families allot to investments almost doubled to 8.5 percent in the third quarter of 2017 from 4.4 percent in the second quarter.

For Q3 2017, the percentage of OFW households allocated part of their remittances for medical expenses (52.5 percent), savings (42.1 percent), debt payments (40.2 percent), purchase of consumer durables (24.5 percent), purchase of house (14.5 percent), and purchase of motor vehicles (6.2 percent) declined.

By geographical area, a bigger percentage of OFW households in NCR used their remittances for medical expenses, savings, investment, and purchase of consumer durables, house, and motor vehicle compared to their counterparts in AONCR.

    The survey showed, however, that the percentage OFW households who set aside savings dropped from 45.9 last quarter to 42.1 percent in the third quarter of the year.

    Majority of where OFW families allocate the money sent home by OFWs on food and household needs (98.1 percent) and on education (70.3 percent).

The Q3 2017 CES was conducted between July 1 and 15 with a sample size of 5,597 households.

Source: bsp.gov.ph
Photo credit: Flickr

Related Articles:

http://filipinotimes.net/editors-pick/2017/09/06/chinkee-tan-to-families-of-ofws-make-an-effort-to-thank-your-loved-ones-abroad/

http://filipinotimes.net/top-stories/2017/09/10/ready-rich-tips-invest-rent-property-ph/

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OFWs urged to ‘bring home a friend’ to win amazing prizes

OFWs urged to ‘bring home a friend’ to win amazing prizes

The Department of Tourism is reviving its Bring Home a Friend (BHAF) program to attract more overseas Filipino workers (OFWs) to revisit their home country as well as encourage more foreign visitors to visit the Philippines. The incentive program aims to enlist the...

Teen wearing headset hit by PNR train

Teen wearing headset hit by PNR train

A grade 10 student, who was wearing a headset while crossing the railways in Sampaloc, Manila was hit by the Philippine National Railways train on September 20. John Genesis Munsayac Jr, Manuel Roxas High School student, was declared dead on the spot after he was...

House restores budget for CHR, 2 other agencies

House restores budget for CHR, 2 other agencies

The House of Representatives has decided to restore the proposed budgets of three government  offices, the Commission on Human Rights (CHR), Energy Regulatory Commission, and National Commission on Indigenous Peoples (NCIP), House Committee chair Karlo Nograles...

Teen wearing headset hit by PNR train

A grade 10 student, who was wearing a headset while crossing the railways in Sampaloc, Manila was hit by the Philippine National Railways train on September 20. John Genesis Munsayac Jr, Manuel Roxas High School student, was declared dead on the spot after he was...

House restores budget for CHR, 2 other agencies

The House of Representatives has decided to restore the proposed budgets of three government  offices, the Commission on Human Rights (CHR), Energy Regulatory Commission, and National Commission on Indigenous Peoples (NCIP), House Committee chair Karlo Nograles...

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