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MANILA, Philippines – Remittances from Filipinos abroad grew at a slower pace in April after reaching $2.7 billion, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Monday.
Latest data showed cash remittances rose by 2 percent year-on-year in April, slower than the 2.3-percent growth recorded in March and marking the weakest pace of increase in nearly three years.
READ: PH remittance growth slows to near 3-yr low
For the first four months of the year, cash remittances increased by 2.6 percent to $11.4 billion.
