Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Saturday, 23 September 2017 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << September 2017 >> 
S M T W T F S
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2007/04/18

Commentary: Peso and the OFWs

by Renee F. De Guzman

San Fernando City, La Union (18 April) -- As the peso continues to gain and remains at the P47 territory, the small salaried overseas Filipino workers including the exporters are getting unhappy.

The rising peso has undeniably reduced the income in peso terms of the exporters and especially the OFWs has it lessened the purchasing power of their dependents back home.

A stronger peso is good for the country’s economy and therefore for everybody. It should be emphasized that the merits of a buoyed peso includes; the reduction of cost of oil imports, moderation of inflation, lower cost of local raw materials, stabilization of electricity rates and cheaper imported goods.

Moreover, a strong peso helps in trimming the country’s debt payments and budget deficit. According to the Department of finance the country can reduce payments by P4.2 billion for every P1 appreciation in the exchange rate.

Relatives of Filipino migrant workers and exporters seem to be on the receiving end of an appreciating peso. Their predicament however, is expected as temporary and will not linger because a stronger peso will eventually boost their purchasing power. (PIA La Union) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»Commentary: Politics and boxing
»Samar DepEd to give recognition and honors to deserving schools
»Cebuano News: Pres. Arroyo motan-aw sa P2 bilyones nga kasabutan didto sa Tsina
»Dinagyang all set to conquer Aliwan ’07
»PGMA to attend Boao Forum for Asia in China
»Tagalog News: Dalawang follower ng magkalabang kandidato patay sa Maguindanao
»Tagalog News: Peace covenant matagumpay na naisagawa sa lalawigan ng Sultan Kudarat
»Six architectural heritage sites in Leyte identified
»Statement of the President Re: Pacquiao's Victory
»PGMA welcomes People's Champ Pacquiao in Malacañang
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines