Philippines’ FDI expected to reach 2.6 bln USD in 2014
The Philippines is forecast to enjoy higher foreign direct investments (FDI) in 2014, thanks to the recovery of the world’s largest economies and trade partners, including the US.
The Philippines is forecast to enjoy higher foreign direct investments(FDI) in 2014, thanks to the recovery of the world’s largest economiesand trade partners, including the US.
Governor of the CentralBank of the Philippines (BSP) Amando Tetangco Jr said FDIs are likely tohit 2.6 billion USD in for 2014, higher than the expected 2.1 billionUSD in 2013.
Meanwhile, the BPS forecasts the country’s grossinternational reserves (GIR) to reach 86-87 billion USD in 2014, 1billion lower than the set target.
Governor Tetangco attributed the decrease to revaluation changes in the BSP’s gold holdings.
Bylate November 2013, the Philippine GIR increased 400 million USD to 84billion USD from the previous month, boosted largely by foreign exchangeoperations and earnings from investments of the BSP.-VNA
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