Data from the BSP showed FDI net inflows jumped by 6.3% to $923 million in October, from $868 million a year earlier. This was also 47.4% higher than the $626-million net inflows in September.
Nonresidents’ net investments in debt instruments of local affiliates went up by 5% to $667 million from $635 million a year earlier. Equity other than reinvested earnings jumped by 21% year on year to $170 million in October from $141 million a year ago. Gross placements climbed by 22% to $188 million, but withdrawals rose by 32.9% to $18 million.
Despite elevated inflation, the economy expanded by 7.6% in the third quarter, bringing the year-to-date average to 7.7%. Economic managers expect the full-year growth to exceed its 6.5-7.5% target for 2022. “For data in the remaining months of 2022, FDI is expected to remain in net inflow with economic activity perceived to be even stronger than in the third quarter,” Mr. Roces added.For the January-to-October period, FDI net inflows declined by 8.3% to $7.635 billion, BSP data showed.
Source: News Formal (newsformal.com)
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