BSP: Foreign outflows ease

The country posted lower net outflows of foreign investments in January at $283.69 million from $487.37 million in December last year, the Bangko Sentral ng Pilipinas (BSP) said.

The BSP reported gross inflows rose 25 percent to $1.3 billion from $1.06 billion. Meanwhile, gross outflows reached $1.6 billion, up slightly by 4 percent.

Most investors parked funds in peso-denominated government securities amounting to $896 million or 68 percent of the total investments.

Meanwhile, equity investments in firms listed with the Philippine Stock Exchange stood at $422.9 million or 32 percent of the total investments.

UK, Singapore top sources

Firms which received the biggest equity investments included banks, transportation services, property developers, holding firms, and food, beverage and tobacco manufacturers.

Top country sources were the United Kingdom, Singapore, the United States, Ireland and Luxembourg.

For the gross outflows, the United States received the biggest share of redirected funds at 35 percent or a value of $559.27 million.

Compared to January 2024, registered foreign investments were still higher by 7 percent.

Rizal Commercial Banking Corp. chief economist Michael Ricafort said the Philippines could sustain foreign investments as global institutions project a better economic outlook for the country.