Philippines see higher inflows of international investment
2013-10-01 13:41:14
The Philippines saw higher and robust inflows in the financial account in 2012 as investors trooped toward the islands republic's emerging markets, but the country's international investment status performed low in the year, the Philippines Cental Bank reported Tuesday.
"...the country's net liability position grew by 39.1 percent to $34.1 billion, from the revised end-2011 level of $24.5 billion ..." the Central Bank of the Philippines (Bangko Sentral ng Pilipinas or BSP) stated.
It also said that the Philippines' "sound macroeconomics fundamentals" boosted investors' confidence in its economy.
As the Philippines registered financial assets that went up by 12.4 percent to $119.7 billion in 2012, its total external financial liabilities rose 17.4 percent to $153.8 billion, the Bank stated.