MANILA, Philippines—Long term investments in the Philippines declined by a quarter in 2020, highlighted by an even sharper fall in December of that year, due to the economic turmoil brought by the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP).
In a statement, the BSP said that foreign direct investments in 2020 amounted to $6.5 billion, which represented a contraction of 24.6 percent from the $8.7 billion net inflows in 2019.
“The disruptive impact of the pandemic on global supply chains and the weak business outlook adversely affected investor decisions in 2020,” it said.
By component, nonresidents’ net investments in debt instruments contracted by 22 …
Keep on reading: Long term investments in PH fall 25 percent in 2020 as pandemic hit