The Bangko Sentral expects remittances this year to grow around 6 percent to $17.9 billion despite the slowdown in the global economy.

Central bank sources said Filipinos working abroad were expected to send home $17.3 billion through the banking system. Remittances in 2008 likely grew 15 percent to a little over $16 billion. About eight million Filipinos work abroad.

Bangko Sentral Gov. Amando Tetangco Jr. said in an interview with Global Source Philippines that demand for Filipino workers would continue because of the diversity and the quality of the skills they offer, adding that more Filipinos were expected to get permanent residency status.

Global Source is an independent network of financial advisers.

?While we expect the crisis to affect permanent workers, we believe that they have better flexibility to look for replacement jobs compared to workers who rely on contract renewals,? Tetangco said.

?Bilateral talks with host countries have also continued to open up new employment opportunities abroad for Filipinos in terms of translation and transcription services. Furthermore, the inelastic demand for medical and healthcare practitioners from the ageing population of developed countries account for the continued demand for overseas labor particularly from the Philippines. These skilled workers earn more income and remit more foreign exchange,? he added.

Deployment of Filipino workers in the first 10 months of 2008 surged 25.5 percent to 1.11 million from 888,339 year-on-year.

The central bank earlier warned of a slowdown in deployment next year as host countries dealt with the impact of the global financial meltdown. Canada and some Middle Eastern countries and Australia, however, have expressed interest in tapping Filipino workers.

Remittances from Filipinos abroad totaled $13.71 billion in the 10-month period, up 15.5 percent on year. Eileen A. Mencias