MANILA, Philippines – Experts say the call for overseas Filipino workers (OFWs) to stop sending money to their families in the Philippines for a week will have a negligible effect on the country’s economy, but OFW families will be more affected than the Philippine government.

Economist and bank executive Michael Ricafort said that remittances from the United Kingdom (UK) account for only 4.7% of total remittances, compared to 41% from the United States (US).

In an interview with radio station GMA-DZBB’s One-on-One, Walang Personalan, Ricafort said, “Kung specific sa Europe (ang call) not to send remittances, hindi ganun kalaki yung shares ng remittances.”

The bulk of OFW remittances come from the US, followed by the United Arab Emirates (UAE) and major Asian countries.

He said that based on data, 41% of the money sent to the Philippines comes from the US, followed by Singapore with 7.5%, Saudi Arabia with 6.6%, and Japan with 5.7%. The UK contributes 4.7%, followed by the UAE at 3.5%, Canada at 3.1%, Taiwan at 2.8%, and Qatar and Malaysia at 2.4% each. South Korea accounts for 2.1%, while Germany’s share is 1.9%.

Ricafort noted that the country receives about $2.9 billion in remittances per month, with those from the UK amounting to approximately $314 million per month.

“Parang kurot lang,” Ricafort said, adding that OFWs will eventually send the money to their relatives, who will use it to pay for basic necessities like food, rent, medicine, and internet or phone bills.

“Lahat yan (relatives) may bayarin. Kung sakto resources, the least that could happen, temporary ma-stop, pero magpapadala pa rin naman,” Ricafort added.

He said the impact of the remittance freeze would be “bearable or relatively negligible,” as recipients will still receive the money after the one-week zero remittance period and will eventually spend it on their needs.

The call for OFW Zero Remittance Week, from March 28 to April 4, 2025, was initiated by the Maisug Croatia Chapter in Europe. The group aims to pressure the government to heed the demands of supporters of detained former president Rodrigo Duterte to bring him back to the Philippines.

Sonny Africa of IBON Foundation said the call for zero remittance week will hurt the families of Duterte’s supporters more than the economy.

In a Facebook post, Africa said, “Remittances really just stopped for a moment, if even that, and will eventually be sent anyway bumping up remittances afterwards.”

“It’s a ‘powerful message’ only because it’s catchy enough to get noticed – much like the Duterte brand which is all bluster and optics but, at its core, empty and devoid of anything meaningful or positive,” Africa added, stressing that “like the Duterte brand, if ignored, it has no meaning at all.”

Meanwhile, Chief Presidential Legal Counsel Juan Ponce Enrile urged OFWs to think carefully before heeding the call for a weeklong zero remittance, warning that Congress could revoke their tax privileges.

“The OFWs are income tax-free on their earnings abroad; they do not pay travel taxes; they do not pay airport fees; they are exempt from the documentary stamp taxes on their remittances; and they are also exempt from filing income tax returns. In addition, they have to have passports to be able to work as OFWs,” Enrile said.

“I earnestly suggest to our OFWs to study carefully that advice to them before they get burned by it,” Enrile stressed.

📷 Maisug Croatia