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Data from the Bangko Sentral ng Pilipinas showed that foreign direct investment net inflows went up 29.3 percent to $1.4 billion from $1.1 billion in February 2023.
The growth was tempered by the 41.5-percent contraction in nonresidents’ net investments in debt instruments to $533 million in February 2024 from $912 in February 2023.- Advertisement - The BSP said that in the first two months, the total FDI net inflows reached $2.3 billion, higher by 48.2 percent than $1.5-billion net inflows recorded in the same period last year.
Michael Ricarfort, chief economist of Rizal Commercial Banking Corp., said the latest year-on-year improvement in the FDI data, among pre-pandemic highs, may have to do with improved economic and financial markets performance in recent months.
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