According to the Bangko Sentral ng Pilipinas (BSP) yesterday, the country’s foreign direct investments (FDI) remained positive in August, as net inflows grew by 123.44% year-on-year to US$143 million. The amount grew as foreign investments into the country surged on the back of a positive outlook for the country’s economic prospects in spite of challenging global economic conditions. For the month of August, the net result was mainly due to non-residents’ placements in debt instruments issued by local affiliates of US$47 million, overturning the US$44 million net outflow recorded a year ago. Likewise, equity capital was a net inflow of US$42 million. These brought the year-to-date net FDI was up by over 25% to US$2.758 billion, which exceeds the BSP’s Php2 billion full-year forecast
Posted on: Tue, 12 Nov 2013 10:16:42 +0000
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