Displaying all posts for Economy

Philippine economy can’t do without OFW remittances – Neda

By Cai U. Ordinario/rappler.com -The Philippine economy can only become less dependent on Overseas Fillipino Workers (OFWs) remittances but not completely independent from it. In a statement on Monday, September 10, the National Economic and Development Authority (Neda) has become less dependent on remittances from overseas Filipinos in the Read more »

‘Philippines’ minimum wage already one of highest in Asia’

By Alvin Elchico, ABS-CBN News – The Philippines has the highest wages for workers among third world countries in Asia, according to the Employers Confederation of the Philippines (ECOP).

8 in 10 Pinoy households don’t have bank accounts

By Cathy Rose A. Garcia, ABS-CBNnews.com – Eight in 10 Filipino households (78.5%) do not have deposit accounts, according to the first Consumer Finance Survey (CFS) conducted by the Bangko Sentral ng Pilipinas.

11 million RP households do not have bank accounts

About two-thirds of Philippine households do not have a bank account, according to Bangko Sentral ng Pilipinas Gov. Amando M. Tetangco Jr., saying this translates to an estimated 11 million households that remain untapped by the banking system.

Filipino communities turn trash into cash

By Ana Puod – Days after the New Year’s Eve revelry dies down, expect colorful lanterns or wreaths to remain hanging on the windows of many Filipino homes—part of a tradition in this Southeast Asian country known to have the longest Yuletide celebration in the world.

‘Remittance-driven economy may be over soon’

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By Karen Flores – Money sent home by overseas Filipino workers (OFWs) may no longer be one of the country’s main growth drivers in the next decade, according to the top official of government-owned Development Bank of the Philippines (DBP).