Remittances could be affected by escalating tensions in the Middle East but overall inflows will continue to grow as Filipinos seek work abroad, the Bangko Sentral ng Pilipinas (BSP) said.
Saudi Arabia severed diplomatic ties with Iran on Sunday after protesters ransacked its embassy in Tehran following the execution of a Shiite cleric. Iran, meanwhile, declared that Saudi Arabia would face “quick consequences” for the execution.
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