This marked the lowest level of FDI in over four years, or since the $314 million in April 2020 at the start of the COVID pandemic.
"The decline resulted from lower net inflows across all major FDI components," the central bank said.
BSP data showed the net investments in debt instruments fell by 30 percent to $213 million in June from $304 million in the same period last year as foreign companies settled more debt.
Investments in debt instruments consist mainly of intercompany borrowing between foreign direct investors and their subsidiaries in the Philippines. The rest are investments made by nonresident subsidiaries in their resident direct investors.
This story is from the September 11, 2024 edition of The Philippine Star.
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This story is from the September 11, 2024 edition of The Philippine Star.
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