MANILA, Philippines — Foreign direct investments to the Philippines posted a headline-grabbing growth in March, thanks to a huge lift from base effects that will likely fade in the next months. Fresh data from the Bangko Sentral ng Pilipinas released Thursday showed job-generating FDIs posted a net inflow of $808 million in March, up 139.5% year-on-year. A net inflow means more investments entered the country against those that left. In the first quarter, FDI yielded a net inflow of $2.4 billion, up an annualized 45.1% rate. This year, economists like Nicholas Mapa of ING Bank in Manila are expecting economic data to be distorted by low base, and the FDI report is no exception to that.

Source: Philippine Star June 10, 2021 05:03 UTC