Remittance slowdown risks taggedhome/Business/Top Business/Remittance slowdown risks taggedThe Philippines is expected to continue posting strong growth but a slowdown in remittances will likely contribute to a widening current account deficit and make the country vulnerable shifts in investor sentiment, a London-based consultancy said. “Remittance growth to the Philippines has slowed steadily over the past decade and looks set to remain subdued over the next few years. “We are more concerned that the slowdown in remittance growth will contribute to a further widening of the current account deficit, and make the Philippines more vulnerable to sudden shifts in global risk appetite,” it added. The region is the source of 30 percent of remittances to the Philippines, and there has been a marked slowdown in remittances from the region over the past few years,” it added. Full-year current account data is scheduled to be released today, March 15.

Source: Manila Times March 14, 2019 16:49 UTC