Analysts: No downward trend, remittances to grow 5% in 2017

Given “the healthy growth in OFW remittances in May, it looks like the year-on-year spike in March and the drop in April this year are likely just a case of timing,” Metropolitan Bank and Trust Company research head Marc Bautista said.

“This means that funds may have just been remitted in advance and, thus, got booked in March rather than in April, as we have opined earlier, increasing the March flow and decreasing the April remittance,” he explained.