Congress of the Philippines
Congress of the Philippines
09/19/2022 | Press release | Distributed by Public on 09/18/2022 19:47
ROMUALDEZ HAILS FILIPINO COMMUNITY IN US FOR THEIR SUPPORT FOR PRESIDENT MARCOS, CITES VALUABLE CONTRIBUTIONS TO PH
PRESS RELEASES
SOURCE: Press and Public Affairs Bureau
ROMUALDEZ HAILS FILIPINO COMMUNITY IN US FOR THEIR SUPPORT FOR PRESIDENT MARCOS, CITES VALUABLE CONTRIBUTIONS TO PH
19 September 2022 09:12:54 AM
SPEAKER Martin G. Romualdez on Monday (Philippine time) hailed the Filipino community in the United States for their warm welcome and support to President
Ferdinand "Bongbong" Marcos, Jr. as he acknowledged their significant contributions to the Philippines.
On early Monday morning (Sunday late afternoon in US), President Marcos met with thousands of Filipino workers and migrants at the New Jersey Performing Arts Center
in Newark, New Jersey on the sidelines of his US trip to participate in the 77th United
Nations (UN) General Assembly in New York.
Romualdez, along with other members of the Philippine delegation to the UN, accompanied President Marcos during his meeting with the Filipino community.
"Your warm welcome and expression of strong support certainly serve
not only as an inspiration to our President but also an affirmation of the overwhelming mandate he carries as he engages with other world leaders to articulate our country's position on some of the critical
issues facing the world today such as climate change, and food security, and rule
of law," Romualdez said.
Romualdez assured the Filipino community in the US of the full and unwavering support of the House of Representatives for the programs of President Marcos meant to improve the country's economy and make life better for our citizens.
"Your House of Representatives will work for the passage of necessary legislations to spur development and economic growth towards the realization of the vision of President Marcos, where our citizens no
longer need to work abroad for lack of opportunities at home, but only may do so only as a matter of choice," Romualdez said.
Likewise, Romualdez lauded the vital contributions of overseas Filipino workers (OFWs) and migrants similar to the country's economy through dollar remittances they are sending to their families and relatives here in the Philippines.
"At this juncture, when our economy is buffeted by external factors,
your remittances help to cushion the pressure that has been driving
down the value of our peso with the unfortunate consequence of
increasing prices of basic commodities," Romualdez noted.
By sending their hard-earned dollars home, Romualdez said the Filipino community, OFWs and migrant workers not only help their families but also boost the country's foreign reserves.
"Truly, you are our modern-day heroes," he added.
According to the latest BSP report, remittances from Filipinos working
abroad increased by 2.3 percent year-on-year to reach $3.17 billion in July from $3.17 billion in the same month of 2021.
The United States remained the biggest source of cash remittances followed by Singapore, and Saudi Arabia.
According to the BSP forecast, remittances from overseas Filipinos are
expected to grow by 4% this year and the next, owing to greater
deployment as restrictions worldwide continue to relax.
The BSP also said OFWs sent home a record $31.4 billion in cash
remittances last year.
Of that amount, 40.5 percent, or $12.7 billion, was remitted from the
US. The other major sources of cash inflow are Singapore, Saudi
Arabia, Japan, United Kingdom, United Arab Emirates, Canada, Taiwan,
Qatar, and South Korea.
"But more than anything, the distinctions our Filipino compatriots
receive in the United States for their exemplary contributions to
society provide us with a priceless sense of pride as a nation," said
Romualdez.
In his recent visit to the Philippines, US Secretary of State Anthony
Blinken called Filipino nurses in America "angels" as he cited their
dedication to duty, sacrifices, and caring ways during the height of
the COVID-19 pandemic.
Based on the study by think tank Pew Research Center based in
Washington D.C., there are 4.2 million Filipinos living in the United
States as of 2019, making them the third-largest Asian origin group in
the country behind Chinese and Indians.
The Washington Post also reported that Filipinos in the United States
are highly educated, with nearly half holding a bachelor's or
postgraduate degree. They are also affluent, with a median annual
household income of $90,400.(END)