By Katherine K. Chan, Reporter
FOREIGN DIRECT INVESTMENT (FDI) net inflows into the Philippines sank to their lowest level in more than 11 years in May amid still-cautious investor sentiment, Bangko Sentral ng Pilipinas (BSP) data showed.
Based on preliminary BSP data released on Monday, FDI net inflows plunged by 64.7% to $210 million in May from $595 million in the same month last year.
Month on month, it slid by 16% from April’s $250 million, which was the lowest in over a decade. This was the second straight month that inflows declined annually.
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