THE ONGOING Middle East war may have continued to take a toll on migrant Filipinos, as the money they sent home in May slumped to its lowest level in a year, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.
Cash remittances from overseas Filipino workers (OFWs) rose by 2% year on year to $2.713 billion in May. This is the lowest level of cash remittances since May 2025, when remittances stood at $2.658 billion.
The 2% annual growth was the same as in April, which was the slowest in nearly four years or since the 1.8% in May 2022.
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