Foreign direct investment (FDI) net inflows recorded double-digit growth in July as more investments came in, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. Ricarfort accounted higher FDI net inflows to better economic recovery prospects and increased infrastructure spending to "pump-prime" the economy and prepare for the May 2022 elections. From January to July 2021, FDI net inflows grew by 43.1 percent to $5.6 billion from $3.9 billion. "This was mainly on account of the 78.7 percent expansion in non-residents' net investments in debt instruments to $3.9 billion from $2.2 billion," the central bank said. On a year-to-date basis, non-residents' net investments in equity capital decreased by 12.4 percent to $1 billion from $1.1 billion.

Source: Manila Times October 11, 2021 15:33 UTC