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.
Governor of the Central Bank of the Philippines (BSP) Amando Tetangco Jr said FDIs are likely to hit 2.6 billion USD in for 2014, higher than the expected 2.1 billion USD in 2013.
Meanwhile, the BPS forecasts the country’s gross international reserves (GIR) to reach 86-87 billion USD in 2014, 1 billion lower than the set target.
Governor Tetangco attributed the decrease to revaluation changes in the BSP’s gold holdings.
By late November 2013, the Philippine GIR increased 400 million USD to 84 billion USD from the previous month, boosted largely by foreign exchange operations and earnings from investments of the BSP.-VNA
Governor of the Central Bank of the Philippines (BSP) Amando Tetangco Jr said FDIs are likely to hit 2.6 billion USD in for 2014, higher than the expected 2.1 billion USD in 2013.
Meanwhile, the BPS forecasts the country’s gross international reserves (GIR) to reach 86-87 billion USD in 2014, 1 billion lower than the set target.
Governor Tetangco attributed the decrease to revaluation changes in the BSP’s gold holdings.
By late November 2013, the Philippine GIR increased 400 million USD to 84 billion USD from the previous month, boosted largely by foreign exchange operations and earnings from investments of the BSP.-VNA
