The BSP said the positive growth was a reversal from three months of decline attributed largely to the weak global outlook and investors’ confidence following the pandemic.
“The stronger FDI performance during the month relative to the level last year was on account of the increase in non-residents’ net investments in equity capital and debt instruments,” the BSP said. Despite the rebound in May, FDI net inflows are still down 25.6 percent in the first 5 months of the year.
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