FDI in the Philippines down 61.1% in April

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Data released by the Bangko Sentral ng Pilipinas (BSP) showed that foreign direct investment (FDI) in the country in April dropped by 61.1% year on year. Total net inflows last April amounted to USD874m from USD2.244bn in the same month last year. An economist said the drop in FDI can be attributed to the trade and economic policies adopted by the Trump administration. In particular, some economists said the protectionist stance of US President Donald Trump is expected to hurt the Philippine business process outsourcing (BPO) sector. From January to April this year, FDI was down 32% to USD2.434bn from USD3.581 during the same period last year.