MANILA – Money sent back to the Philippines by its army of migrant workers grew 15 percent from a year earlier to $1.3 billion in January, the Bangko Sentral ng Pilipinas said yesterday.

This followed record remittances of $14.4 billion in 2007, a 13.2 percent rise over the previous year.

"Monthly remittance flows have been surpassing the billion-dollar mark since May 2006," the BSP said, and are expected to reach $15.7 billion for the calendar year 2008.

"Continued preference for and confidence in the professional competence and skills of Filipino manpower support the view that a high level of remittances could be sustained in the months ahead," the BSP added.

Nearly 10 percent of the population of 90 million Filipinos hold down temporary jobs abroad.*AFP

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