The Bangko Sentral ng Pilipinas raised the foreign direct investments target this year to a net inflow of $8 billion from the previous estimate of $7 billion, on sustained investors’ confidence in the Philippine economy.
Bangko Sentral Deputy Governor Diwa Guinigundo said in a news briefing the bank also took into consideration the actual net inflow of $7.9 billion in 2016.
The FDI net inflow of $7.9 billion last year surpassed the target of $6.7 billion. The 2016 figure was also 40.7 percent higher than the $5.72-billion net inflow in 2015.
Net inflow of foreign direct investments in the first quarter rose 16.6 percent to $1.6 billion from $1.3 billion a year ago. Net investments of debt instruments more than doubled to reach $1.3 billion. Equity capital investments posted net inflows of $101 million, lower than $550 million a year earlier.
FDI’s net inflow grew 30.6 percent in March to $509 million from $390 million in the same month last year.