The net inflow of FDI into the Philippines shrank by 14 percent to $876 million in April from $1 billion in the same month of 2022 as expectations of weaker economic growth continued to dampen the movement of capital.
The biggest component of FDI inflows—net investment in debt instruments—dropped by 7.7 percent to $663 million from $718 million.Also, net equity capital other than the reinvestment of earnings plunged by 33.8 percent to $136 million from $206 million, decreasing for the sixth month in a row.
The BSP keeps FDI data that represent capital which actually moved, instead of pledged or planned investments that may or may not be realized.18-percent drop For the January-April period, net inflows dropped by 18 percent to $2.9 billion from $3.6 billion in the same period last year.For the four-month period, all three components similarly showed a decline, with net investment in debt instruments sliding 18 percent to $2.24 billion from $2.75 billion.
“The lagged impact of interest rate hikes will weigh more heavily on domestic activity, while weakness in external demand will drag on Philippine exports,” BMI said in a commentary.
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