Rizal Commercial Banking Corp. chief economist Michael Ricafort told Manila Standard remittances from Filipinos working in Israel reached $66.7 million from January to July this year, or 0.5 percent of the total remittances for the period.
“They are the last to go… Provided no evacuations or repatriation back to the country,” Ricafort said. President Ferdinand Marcos Jr. ordered the Department of Migrant Workers to locate and account for all Filipinos in Israel, where attacks by the Palestinian group Hamas on Saturday triggered Israeli airstrikes over the Gaza Strip.
The growth in cash remittances from the United States, Singapore, Saudi Arabia, and United Arab Emirates contributed mainly to the increase in remittances in the first seven months of 2023, the BSP said.
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