House Committee on Overseas Workers Affairs Chair and Kabayan Partylist Rep. Ron P. Salo warmly welcomes the recent update from the Bangko Sentral ng Pilipinas (BSP) that reports personal remittances from overseas Filipino Workers (OFWs) for 2023 surged to an all-time high USD37.2 billion in 2023, marking a 3 percent increase from the past year. This influx of remittances, accounting to 8.5 percent of the country’s gross domestic product, is a testament to the unwavering dedication of Filipino migrant workers.
“The Filipino spirit is very much alive in our country and all over the world. In the face of global challenges and uncertainties, our OFWs have once again demonstrated their hard work, dedication and resilience. This feat signifies their enduring commitment to their families and our nation,” stated Salo.
Rep. Salo also extended his commendation to President Ferdinand Marcos Jr. for his commitment to the welfare of our OFWs, and for his efforts in strengthening bilateral relations with other countries.
“The President’s commitment in fostering diplomatic ties with other countries creates more employment opportunities for our people,” Salo noted.
Rep. Salo also expressed optimism on the continued growth of OFW remittances amidst global uncertainties and challenges.
“This is indeed welcome news to kick off the year and lunar year. Let us sustain this momentum throughout the coming months,” Salo remarked.
The KABAYAN Partylist representative reiterated his commitment in advocating for policies that safeguard the welfare and interests of OFWs.
“The Committee on Overseas Workers Affairs and KABAYAN Partylist are committed in supporting OFWs through programs, projects and legislative initiatives such as the Magna Carta of Filipino Migrant Workers and OFW Remittance Protection Act, which protect their rights, provide discount for remittances and promote their well-being,” Salo affirms.
