Foreign direct investment up 57% in May

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THE Bangko Sentral ng Pilipinas (BSP) has reported that foreign direct investment (FDI) in May surged year-on-year but dropped from the level a month ago when net inflows hit a year high.

The net inflow in May rose by 57 percent to $572 million from $365 million a year, but fell 34 percent from the one-year high of $874 million posted in April, data showed.

“All FDI components yielded net inflows during the month,” the Bangko Sentral said Thursday. MAYVELIN U. CARABALLO

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