6. What does "remittance" mean in economic terms?
A. Government tax refund
B. Money sent by OFWs to their families in the Philippines
C. Interest on national debt
D. Profits from local business
Answer (1)
The answer is letter B. Money sent by OFWs to their families in the PhilippinesRemittances are the money that Overseas Filipino Workers (OFWs) send back home to support their families. These remittances help pay for food, education, housing, and other daily needs.They are also very important to the national economy. Every year, billions of dollars enter the country through remittances, which strengthens our currency and adds to national income. In many cases, remittances keep entire communities alive, especially in provinces.
