Investment in human capital must be a sustained objective of the government to ensure that the deployment of Filipino workers abroad will continue to boost remittance inflows into the economy, the Department of Finance (DOF) said on Wednesday.
But along with this, it noted that alternative sources of dollar inflow must also be strengthened, such as that from the business process outsourcing (BPO) sector, to provide a buffer for the economy against external volatilities.
“The Philippine government should ensure its continued inflow through investing in human capital development. Given the volatility of the world economy, alternative sources of income such as the BPO industry should be strengthened,” the agency said in its latest economic bulletin. MAYVELIN U. CARABALLO