The lowest outflow
of profits was from the construction sector which received the second highest FDI during FY18.
The BSP blamed 'domestic and international developments (including the interest rate hikes by the US Federal Reserve, global terrorist attacks, North Korea's nuclear missile testing and the closure order for several mining companies in the country)' for the year-to-date net outflow
of hot money.
The survey said that illicit outflows
from Lebanon on an HMN basis, or those that were channeled through balance-of-payments leakages, totaled $16.
42 billion of net outflow
for overseas securities investments by local residents in the second quarter.
The increase in cash surrender value should then be reported as investing outflow
in the cash flow statement and the remaining (expensed) portion treated as an operating outflow
At the end of the first four months, however, portfolio investments recorded a net outflow
Transactions in peso government securities and other peso debt instruments yielded net inflows ($82 million and $3 million, respectively), while those for PSE-listed securities resulted in net outflows
of $33 million' during the month, the BSP added.
For 2017, the Bangko Sentral ng Pilipinas had projected a net outflow
of hot money in the amount of $900 million.
Next year, outflows
are expected to outstrip hot money coming in for a total net outflow
of $900 million.
In a statement, the BSP attributed to 'profit-taking' last month's outflow
, which was up 56.
The net outflow
last September ended four straight months of net inflows following April's $354.
On a monthly basis, the country last posted a net hot money outflow