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HomeLatestPhilippines' FDI net inflows down to 797 mln USD in August

Philippines' FDI net inflows down to 797 mln USD in August

MANILA, Nov. 10 (Xinhua) — Foreign direct investment (FDI) that flowed into the Philippines fell to 797 million U.S. dollars in August, bringing the cumulative net inflows to 5.9 billion dollars for the first eight months of 2022, the Philippine central bank said Thursday.

On a cumulative basis, the Bangko Sentral ng Pilipinas (BSP) said the FDI net inflows from January to August were 13 percent lower than the 6.8 million dollars recorded in the comparable period in 2021.

“The slowdown in FDI may be attributed to concerns over weakening global growth prospects, particularly with the moderating demand and policy tightening in major economies,” the BSP said.

The BSP added that the FDI net inflows in August decreased as all major FDI components posted lower net inflows, particularly non-residents’ net investments in debt instruments of their local affiliates.

Inflows in August came mainly from Japan and the United States.

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