FDIs down 5.6% on August
The central bank-registered foreign direct investments (FDI) went down 5.6 per cent to $4.432 billion as of end-August, from $4.693 billion last year.
“The FDI net inflows increased for the fourth consecutive month (August) owing to investors’ renewed confidence as the National Government’s fiscal stimulus and BSP’s accommodative monetary policy stance to mitigate the impact of COVID-19 pandemic gained traction along with the easing of quarantine measures in the country,” the Bangko Sentral ng Pilipinas (BSP) said.
On a cumulative basis, there have been four consecutive months of growth since May that the BSP noted has considerably narrowed the cumulative net FDI contraction of 27.9 percent reported last April.
However, the reinvestment of earnings decreased by 17.9 per cent year-on-year to $71 million in August from $86 million in 2019.
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