By Beatrice M. Laforga, Reporter
Foreign direct investments (FDI) to the Philippines in October fell to the lowest level in six months, amid a fresh surge in coronavirus infections overseas, according to the central bank.
FDI net inflows shrank by a quarter to $423 million from $561 million a year earlier, the second straight month of yearly decline, according to data sent by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno via Viber on Friday.
The October inflows were the lowest since $314 million in April, when many parts of the country and the rest of the world were locked down at the height of the pandemic.
Restrictions have been eased since the second half of last year, but local quarantine and physical distancing measures remain.
“The slowdown in FDI during the month may be attributed in part to concerns over the resurgence of COVID-19 cases in the … Read the rest...