Padala ng OFWs hagip ng nagbabadyang resesyon sa US

Padala ng OFWs hagip ng nagbabadyang resesyon sa US

January 17, 2023 @ 8:33 AM 3 weeks ago


MANILA, Philippines – NAKIKITANG maaapektuhan ang lumalagong remittances na ipinadadala ng overseas Filipino workers (OFWs) sa posibleng recession sa Estados Unidos.

Ang Cash inflows mula sa OFWs ay pumalo sa 5.7% year-on-year growth noong Nobyembre 2022 na umabot sa USD2.64 billion. Gayunman, ang nasabing halaga ay mababa kumpara sa mga nakalipas na buwan na USD 2.91 billion.

Sa ulat, natukoy ni Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort, ang “lower monthly cash remittance inflows partly to higher US dollar-Philippine peso exchange rate in the latter part of 2022 compared to the earlier part of the year.”

“The local currency was trading at 56-level against the greenback in around November last year while it was only at around 51-level at the start of 2022,” ayon sa ulat.

Ang factor na ito ayon kay Ricafort ay “partly led to lower amount of U.S. dollars sent by OFWs to the country, given the higher equivalent of these remittances when converted to pesos.”

“Furthermore, higher prices/inflation also in host countries of OFWs could have also increased the cost of living of OFWs abroad, thereby partly reducing the amount sent to the country,” ang wika nito sabay sabing “In the coming months, inflows are seen to also be affected by the possible recession in the world’s largest economy.”

“(This) could slow down remittances amid slower global trade/exports, investments/FDIs (foreign direct investment), employment, and other business/economic activities,” aniya pa rin.

Tinuran pa ni Ricafort na ang patuloy na muling pagbubukas ng mga bansa para sa mga OFWs at ang pagbangon ng ekonomiya mula sa pandemiya ay nakikitang magpapagaan sa epekto ng posibleng recession.

Aniya, ang paglago sa remittances, na nananatiling “resilient” sa gitna ng repatriation sa ilang OFWs noong 2020 dahil sa pandemiya ay nakikitang magpapatuloy dahil sa demand para sa mga Filipino workers sa mga bansang mayroong tinatawag na “aging population” at iba pa.

“OFW remittances are still near record highs on a monthly basis, a bright spot for the Philippine economy in terms of spurring/supporting consumer spending, which accounts for at least 73 percent of the economy, and in turn, support faster GDP (gross domestic product)/economic growth,” dagdag na pahayag ni Ricafort. Kris Jose