THE Bangko Sentral ng Pilipinas (BSP) said that the investment inflows month-on-month for October grew and remained double-digits lower than the same month in the previous year.

In a statement, the BSP said that Foreign direct investment (FDI) for October is at  $655 million, higher than the $422 million in September.

However, it is  29.6% lower than the $930 million recorded in October 2021.

Likewise, the central bank also said that the annual decline is pegged at 26.1% which shows a drop in net investments in debt instruments to $504 million from $682 million. Nonresidents’ net investments in equity capital slipped by 54.4% to $74 million, while reinvestment of earnings fell by 10.3% to $76 million.

The BSP said that the bulk of the equity capital placements for the month came from Japan, the United States, and Singapore.

They were then directed mostly to the manufacturing, real estate, and the financial and insurance industries.

“While FDI continued to record net inflows, the recent decline in levels reflect the adverse impact of persistent inflationary pressures and slowing global growth prospects on investor decisions,” the BSP said.