FDI inflows surged to $637m in August

Net inflow of foreign direct investments rose for the fourth consecutive month as investors reacted positively to the government’s fiscal stimulus and monetary authorities’ stance to lessen the impact of the COVID-19 pandemic to the economy, the Bangko Sentral ng Pilipinas said Wednesday.

Latest data showed net FDI inflows increased 46.9 percent in August to $637 million from $434 million a year ago.

“The FDI net inflows increased for the fourth consecutive month, owing to investors’ renewed confidence as the 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 BSP said in a statement.

The BSP said that in the first eight months, FDI net inflows amounted to $4.4 billion, down by 5.6 percent from $4.7-billion net inflows in the same period last year.

Topics: foreign direct investments , FDI , COVID-19 pandemic , Bangko Sentral ng Pilipinas
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