Foreign direct investments (FDIs) into the Philippines fell to a 20-month low in January as there were fewer inflows in debt instruments and equity capital during the month, the Bangko Sentral ng Pilipinas (BSP) reported Tuesday.
Data released by the central bank showed that FDI net inflows stood at $448 million in January, 45.7% lower than the $824 million the same month last year, and lower than the $634 million in December 2022.
“FDI net inflows declined during the month amid global economic uncertainties and high inflation, which continued to weigh on investor decisions,” it added.It has sincein March, slower than the 8.6% recorded in February. Core inflation, which excludes select food and energy items, however, climbed to 8% - the highest since March 1999’s 8.1%.
Reinvestment of earnings was recorded at $75 million, translating to a 4.1% increase from $72 million in January 2022, but lower than the $80 million in the previous month. “For the coming months, net FDIs could pick up as the economy reopened towards greater normalcy,” he said in a separate commentary.
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