Strong OFW remittances thwart recession in RP

Tuesday, June 9, 2009 [ sunstar.com.ph ]


THE Bangko Sentral ng Pilipinas (BSP) denies the country would go into a downturn, citing strong OFW remittances, slowdown in inflation, recovering investors’ appetite for investments and the continued growth of the BPO sector.

BSP governor Amando Tetangco Jr. said these are the reasons why the economy should remain bullish and assured there will be no recession in the country.

"The Manny Pacquiao Blog". Click here for stories and updates on the Filipino boxing champ.

In recent reports, BSP also sees $6- billion earnings for the BPO sector this year.

In Bacolod City, the industry’s growth is manifested with more and more call centers increasing their seats, providing for more job opportunities.

Recently, Utah-based Focus Pacific Incorporated held a press conference announcing its expansion and hiring of 165 more call center agents in addition to their existing workforce.

Focus Pacific executives also lauded the City of Bacolod, represented by the Bacolod IT Focus Team headed by Councilor Jocelle Batapa-Sigue, chair of the City Council information and communication committee, for their warm accommodation.

Another call center, Teleperformance, is also looking for 300 more call center agents. An announcement has been made since last month and is extended until June 30. An attractive salary and sign-on bonus plus 20 percent night differential awaits qualified applicants.

Meanwhile, in terms of OFW remittances, BSP projects it will remain at $16.4 billion, the same as last year’s.

____________________________________________________________________________________