My Google Page Rank

Middle East unrest to impact adversely on PH economy – Villar

PDFPrintE-mail

The government should start stitching up economic safety nets for the thousands of overseas Filipino workers (OFWs) in the Middle East who will be forcibly repatriated as the regional conflagration escalates, Sen. Manny Villar said yesterday.

Villar said the immediate economic impact of sending home Middle East-based OFWs would be felt in the employment front since they will instantly bloat the jobless statistics.

"The government must be ready with job programs to assimilate homebound OFWs willing to get employment at once," he said.

Villar said TESDA could step in to take lead in providing skill training programs to provide job opportunities for returning OFWs.

He said consumer spending, which was currently riding on the spending appetite of OFW families, will likewise slowdown as more OFWs from Middle East come home.

"The psychological effect to other OFWs and their families not directly affected by the Middle East turmoil would also drive them to be conservative on their spending and ultimately hurt businesses," Villar said.

He said aside from shattered dreams, one big casualty of the Middle East unrest is the expected dwindling of US dollar remittances from OFWs in the region that is being rocked by pro-democracy rallies that is threatening to engulf the entire Arab bloc.

Villar said the Middle East alone is home to more than two million dollar-remitting OFWs, whose monthly remittance could drastically dwindle if the unrest continues.

“The pro-democracy movements in the Middle East are spreading like wildfires and caught in the middle are our OFWs,” Villar said.

Villar said OFWs in Bahrain, Yemen, Iran and Libya are now facing bleak employment future because of the protest rallies in its capital cities.

There are more than 31,000 OFWs in Bahrain, 1,500 employed OFWs in Yemen, 26,000 OFWs in Libya, and about 1,000 Filipino workers in Iran.

The senator said he would dread the day when the civil uprising spills over to neighboring Saudi Arabia, which is the biggest employer of OFWs reaching 1.5 million and collectively remitting some $1.3 billion annually.

According to Villar, the latest order of the government to freeze deployment to Bahrain, Yemen and Libra would further hurt the potential growth in OFW remittances from the region.

He said the government may have to kiss goodbye another banner year of OFW remittances this year because of the Middle East situation.

Villar, who chairs the Senate trade panel, said last year’s $18.76 billion record remittances turned in by OFWs around the globe may now be a difficult to beat or replicate.

“Unless the unrest simmers down soon, the government may have to look for another economic booster other than the dollars sent by OFWs,” he said.
The senator, citing estimates by foreign banks, said even the projected OFW remittances of $20.5 billion this year is a pipe dream.

Villar earlier called on government to assess the economic impact of the Middle East turmoil to local oil prices and welfare of OFWs in affected capital cities. (end)




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

Medical scholarship bill pass 2nd reading in Congress

21 Oct 2017 Hits:74 Be the first to comment!

The House of Representatives, through viva voce voting, recently approved on second reading, House Bill 6571 which seeks to establish a medical scholarship program to address the shortage of doctors in the country. Rep. Celso L. Lobregat, one of the authors of the measure, said the bill seeks to provide the institutional mechanism for the envisioned sustained human resource development of the Philippine public health care system. Lobregat said the government has acknowledged the reality that indeed, the country is facing an alarming shortage of medical doctors and other medical professionals. The solon said medical courses in the country are too costly that it has become beyond the reach of Filipino families, even to those belonging in the higher middle income class. “To make [...] Read more

Prev Next Page:

WestMinCom sends-off 1IB troops after liberation of Marawi

21 Oct 2017 Hits:74 Be the first to comment!

Army soldiers from the 1st Infantry Battalion (1IB) deployed to Marawi City to reinforce the soldiers there during the earlier stage of fighting are set to return to Luzon islands [...] Read more


ZAMBOANGA HERMOSA STRIKING BOWLERS

21 Oct 2017 Hits:49 Be the first to comment!

Este el Zamboanga Bowlers Association, Inc. que ya organiza el Zamboanga Hermosa  2017 , El Copa de Ciudad Triple Men & Ladies Open Invitational Bowling Tournament del Octubre 6-8, 2017 [...] Read more


ROLL THE BALL WITH JONG CARIAGA

20 Oct 2017 Hits:49 Be the first to comment!

·   OCT 21, 2017(Sat)  - 8:00 pm –BAROCCA  ALL       STARS –vs- BRT TIGERS At Golden Boys Gym - MARK BARROCA POST        FIESTA PILAR CELEBRATION ·  OCT 22, [...] Read more


19th Siargao National Surfing Cup Kicks

20 Oct 2017 Hits:61 Be the first to comment!

The first leg of the Philippine Surfing Championship Tour (PSCT), the 19th Siargao National Surfing Cup, kicked off yesterday with a total of 186 surfers from different regions in the [...] Read more


LA HERMOSA VOLLEYBALL TOURNAMENT

15 Oct 2017 Hits:120 Be the first to comment!

Del Octubre 6, 2017 ya hace el opening del La Hermosa Invitational Volleyball Tournament na Zamboanga Trade School . Este el primer torneo de volleyball ya hace na Ciudad de [...] Read more


2017 ZAMBOANGA HERMOSA WEIGHT LIFTING OPEN COMPETITION

14 Oct 2017 Hits:92 Be the first to comment!

Oct. 7-8 2017 UZ IHK Campus,  Veterans , Zamboanga City GIRLS/WOMEN 12 yrs old & below 1ST PLACE  - RAMOS, ROSE JEAN        Mampang WC 2ND PLACE - HIPOLITO, JEANETH      [...] Read more


DEFENSIVE ARTIST... DEE JAY

08 Oct 2017 Hits:161 Be the first to comment!

Este si Abdulbasir Yasin Tamsilani, 50 años de edad , 5’11” el altor, residente de Campo Islam , Ciudad de Zamboanga. Su tata si Hji Tamsilani Mahamud . Su esposa [...] Read more


AMAZING WINGMAN…. MARK

07 Oct 2017 Hits:148 Be the first to comment!

Este si Mark Salcedo Capuy, su palayao “Duduy”, 29 años de edad, 6 ft el altor, residente de Luyahan , Ciudad de Zamboanga . Su mayores si Almario Alejandro Capuy [...] Read more


PSZCAA SWIMMING COMPETITION

01 Oct 2017 Hits:245 Be the first to comment!

Este el Resulta del  Private Schools of Zamboanga City Athletic Association (PSZCAA) swimming competition del September 9, 2017. El maga ganador del competition ay representa con el  PSZCAA na Triangular [...] Read more


DOST, NAST call for 2018 award nominations

30 Sep 2017 Hits:164 Be the first to comment!

The Department of Science and Technology (DOST) and The National Academy of Science and Technology (NAST) are actively searching for possible nominees for various DOST and NAST awards. NAST, the highest [...] Read more


WMSU researches intensify promotion of rubber production in Zambo Peninsula

29 Sep 2017 Hits:231 Be the first to comment!

The region’s economic growth created greater capacity for consumption for different sections of the population. This has stimulated the demand for various products especially agricultural products, thus, generating the need [...] Read more


ONE OF ZAMBOANGA'S BEST COACH IN SWIMMING ... RENE

29 Sep 2017 Hits:192 Be the first to comment!

Este el istoria del persona que ya contribui su talento y tiempo para na maga swimmers de Zamboanga . Este si Rene Sta Teresa, head coach de Aqua Force , [...] Read more


Religious leaders renew call for peace education amid Marawi crisis

28 Sep 2017 Hits:309 Be the first to comment!

Filipino Religious leaders who attended the annual peace gathering in Rome, have vowed to advance the spread of peace education in all educational institutions to reach a common understanding and [...] Read more


UNIDO SWIMMING CLUBS DE ZAMBOANGA

28 Sep 2017 Hits:177 Be the first to comment!

Este el nuevo officers del ZCASA (Zamboanga City Amateur swimming Association) del September 15, 2017, President- Rustum Villanueva, Vice President- Dr. Omar Aranan jr, Secretary- Sherry Pengson, Treasurer- Kharen Bandolis [...] Read more


1,300 personnel to secure Zamboanga Hermosa Festival

27 Sep 2017 Hits:206 Be the first to comment!

Roughly around 1,300 security personnel are expected to be deployed all over Zamboanga City for the celebration of the Zamboanga Hermosa Festival in October. Acting City Police Director, PSSupt. Neri Vincent [...] Read more


SCC BABY BULLDOGS... 2 CHAMPIONS

27 Sep 2017 Hits:176 Be the first to comment!

Este istoria ya revela canaton el coach Ednie Morones del dos teams que ya gana na torneo reciente lang ,el varsity team del Baby Bulldogs ya gana na torneo del [...] Read more


THE SPIDER MOVES OF JOWIE

25 Sep 2017 Hits:207 Be the first to comment!

Este si Jowie J. Natak , 44 años de edad , 5’ 9 el altor , anak di Nasal Natak y Remedios Jamie Natak que ta esta na Malayal Sibuco [...] Read more


BAP REGIONAL DIRECTOR R-9... REV. FR. JONATHAN DUCA

24 Sep 2017 Hits:174 Be the first to comment!

Este el istoria porcaosa del nuevo posicion que ya dale con Rev. Fr. Jonathan Duka y Omar Bowon, el dos cabesa pensante, que ya delega canila cuando ya atende sila [...] Read more