Double-digit hike in OFW remittances, agri production reflect Q1 growth – Palace

A double-digit increase in personal remittances by overseas Filipino workers (OFWs) in March and improved agricultural production during the first quarter of the year were clearly some of the country’s growth engines, Malacañang announced yesterday.

According to Presidential Spokesperson Ernesto Abella, personal remittances from OFWs increased by 11.8 percent to $2.9 billion in March of 2017.

“This reflects the 8.1-percent increase on the total personal remittances for the first quarter of 2017 amounting to $7.7 billion,” Abella said.

Abella said such increase underscores the strong demand for the skills and the competence of Filipino workers.

President Duterte had previously lauded the OFWs for their sacrifices and for keeping the economy afloat. He vowed to return the favor.

“They helped us very much. Nagpapadala sila ng steady income na mga remittances nila, so kailangan magbayad tayo at malaki ang binibigay ng overseas workers (They are giving us a lot through their remittances so we need to pay them back),” he said last month.

“Salamat sa tulong na inyong naibigay sa bayan (Thank you for the help you have given to the country),” he expressed.

Meanwhile, Abella lauded the increase in agricultural production by 5.28 percent in the first quarter of 2017, bouncing back from its performance during the fourth quarter of last year.

“The Philippine agriculture performance increased by 5.28 percent, recovering from a contraction in the fourth quarter of last year by -1.11 percent,” Abella said.

He said that favorable weather conditions and timely application of fertilizers, availability of water in irrigated farms, and adequate amount of rainfall provided for the increase in the total agricultural output

“(The government) will continue to boost increased infrastructure spending to support the agricultural sector,” he said.

Duterte previously vowed to spend 13 trillion for infrastructure projects to give farmers easy access to roads so they can transport their produce easily.

Meanwhile, Abella said the government, particularly the Department of Social Welfare and Development (DSWD), is implementing a plan to address flooding in three municipalities in Maguindanao.

“The DSWD Regional Office has already prepositioned relief goods and has standby funds intended for this purpose,” he assured.

On May 9, 2017, three municipalities in Maguindanao, namely Datu Salibo, Sultan Mastura, Shariff Saydona Mustapha were submerged in floodwaters due to the heavy rainfall.