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Covid-19: Remittances to the Philippines from UAE recovering slowly Filed on December 17, 2020 Reuters The UAE has been the largest source of remittances for the Philippines, with Filipino expats accounting for nearly six per cent of the total UAE population. Remittances to the Philippines from the UAE are slowly recovering from their sharp decline that was recorded in the months of the Covid-19 lockdown, experts said. Devesh Mamtani, chief market strategist at Century Financial, told Khaleej Times that the worst seems to be behind and that the situation should gradually start improving thanks to the roll-out of the Covid-19 vaccines. “The UAE economy has opened and is expected to grow 3.6 per cent in 202,1 according to the Central Bank of UAE. A surge in oil prices and a pick up in the tourism industry should result in more job creations for Filipinos and other expats, and this should boost the remittances going forward.”