Monday 24 June
Dec 11, 2018 @ 17:55

Foreign investments slump in Sept

 

Tough times drove investors away back in September.

Foreign direct investments dropped to $569 million in September 2018, down from $807 million logged a year ago to mark the lowest in 14 months.

The Bangko Sentral ng Pilipinas (BSP) reported that foreign firms were reluctant to place equity capital in the country, which actually yielded net withdrawals totaling $187 million.

Still, offsetting the capital flight are inflows worth $609 million for debt instruments, as well as $78 million in reinvested earnings.

Despite this, total foreign investments reached $8 billion as of end-September, better than the $6.5 billion logged in 2017.

“Investment inflows continued, buoyed by investor confidence in the Philippine economy on the back of strong macroeconomic fundamentals and high growth prospects,” the BSP said.

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