4.3-M Filipinos poor without remittances–economist

Money sent home by Filipinos working abroad have kept at least 4 million Filipinos out of poverty as of 2006, an Asian Development Bank (ADB) economist said Tuesday.

Kelly Bird, senior economist at ADB’s Southeast Asia department, described remittances as “a major anti-poverty driver” in the country.

“Remittances have reduced the national headcount poverty rate by at least 5 percentage points,” said the economist.

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