Philippines logs $4.39 billion trade deficit for May

[JJReyes]

The headline by a business publication is bad news about the local economy.  While this number does not include remittances from OFWs, the preliminary data indicates the direction of the economy during the second half of 2023.  Add to this the substantial borrowings to fund mega projects and you have a recipe for disaster.

[scott h]

4 hours ago, JJReyes said:

remittances from OFWs,

There was also an article that (non-political) economists are worried about wealthy countries changing their recruitment policies for nurses, to include easier immigration rules for the nurses to bring their families with them, hence no more remittances. 

[RBM]

6 hours ago, JJReyes said:

The headline by a business publication is bad news about the local economy.  While this number does not include remittances from OFWs, the preliminary data indicates the direction of the economy during the second half of 2023.  Add to this the substantial borrowings to fund mega projects and you have a recipe for disaster.

And the value of the peso increases..........

[BrettGC]

1 hour ago, scott h said:

There was also an article that (non-political) economists are worried about wealthy countries changing their recruitment policies for nurses, to include easier immigration rules for the nurses to bring their families with them, hence no more remittances. 

Yeah, once they're off their work visa and established residency, many countries have a family reunion programme even without citizenship. Depends on the country as to the ease with which one transitions from work visa to permanent residency.  

[JJReyes]

31 minutes ago, RBM said:

And the value of the peso increases..........

Wouldn't bet my dollar savings account on it.