Mubasher: Remittances from Philippine workers in Kuwait declined 18% to $545.6 million (KWD 165.4 million) during the first 10 months in 2018.
Philippine expats’ remittances in the Gulf nation hit $667 million (KWD 202.2 million) for the January-October period of 2018, according to recent data released by the Central Bank of the Philippines.
In October, remittances of Philippine workers registered a 59% month-on-month growth to $63 million, compared to $39.6 million in the prior month.
An agreement was signed in May between Kuwait and the Philippines to protect domestic workers, ending a diplomatic crisis that negatively affected the amount of remittances during the first quarter in 2018.
The average remittances of about 242,100 Philippine workers in Kuwait amount to $800 million annually.
