FDIs hit record high in 2017, surpass BSP forecast

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PHOTO taken November 11, 2011 shows the Bonifacio Global City skyline in suburban Manila. — AFP

Foreign direct investments (FDIs) to the Philippines hit a record high in 2017, breaching the central bank’s forecast by a fourth.

FDIs totaled $10.05 billion last year, up 21.4% from the $828 million recorded in 2016, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Monday, March 12.

The full-year tally was larger than the BSP’s $8 billion forecast.

“Investors continue to view the country as a favorable investment destination on the back of the country’s sound macroeconomic fundamentals and growth prospects,” the central bank said. — Elijah Joseph C. Tubayan