PH foreign direct investment net inflows hit 7-month high in May
FOREIGN direct investment (FDI) net inflows in May hit a seven-month high of $1.645 billion, an increase of 142.9 percent or more than double the level posted a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
About 80 percent of the net inflows were in the form of intercompany borrowings, or non-residents’ investments in debt instruments issued by local affiliates, central bank data showed.
The net FDI in May was also higher than April’s $1.027 billion and was the highest recorded since October 2017, when net inflows reached $1.918 billion.
In the five months to May, net inflows amounted to $4.847 billion, up 49 percent from the same period last year. MAYVELIN U. CARABALLO
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