MANILA, Nov. 16 (Xinhua) -- Personal remittances from overseas Filipinos amounted to 2.888 billion U.S. dollars in September, higher by 9.1 percent than the 2.648 billion U.S. dollars recorded in the same period of last year, the Philippine central bank said on Monday.

"This brought the total personal remittances for the first nine months of 2020 to 24.302 billion U.S. dollars," the Bangko Sentral ng Pilipinas (BSP) said in a statement.

At this level, the BSP said the contraction in cumulative remittances for the first nine months narrowed to 1.4 percent from 2.6 percent in August.

An estimated 12 million Filipinos are working abroad, according to the Philippine government's data.

The Asian Development Bank has projected the remittances from overseas Filipino workers, equivalent to 9 percent of the country's gross domestic product, to slow down this year due to the COVID-19 pandemic. Enditem

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