Remittances from Overseas Filipino Workers (OFWs) fell to a 12-month low in May, as reported by the Bangko Sentral ng Pilipinas (BSP). This decline reflects a challenging economic environment for many OFWs and the impact of global economic conditions on their ability to send money home.
Despite the drop in May, projections for inflows in 2026 remain optimistic, indicating that overall remittance levels are expected to rise in the coming years. The BSP continues to monitor these trends closely, as remittances play a crucial role in the Philippine economy.