Thu, 4 September
26.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

FDI flows to CIS and Georgia contracted in 2018 by 36 per cent to $27 billion, UNCTAD report says

YEREVAN, June 17. /ARKA/. Global foreign direct investment (FDI) flows slid by 13% in 2018, to US$1.3 trillion from $1.5 trillion the previous year – the third consecutive annual decline, according to UNCTAD’s World Investment Report 2019.

According to it, the contraction was largely precipitated by United States multinational enterprises repatriating earnings from abroad, making use of tax reforms introduced by the country in 2017, designed for that purpose.

The report says FDI flows to the transition economies of South-East Europe and the Commonwealth of Independent States (CIS) continued on their steep downward trend in 2018. Investment to the region declined by 28 per cent to $34 billion.

The contraction in FDI was driven by the halving of flows to the Russian Federation, by far the biggest economy and largest recipient in the group, from $26 billion to $13 billion. Some other large recipients in the region – Azerbaijan, Kazakhstan and Ukraine – also experienced declines in inflows.

Flows to the CIS and Georgia contracted by 36 per cent to $27 billion. The decline affected seven of the 12 countries in that subgroup (the exceptions were Armenia, Belarus, the Republic of Moldova, Tajikistan and Uzbekistan). Investor sentiment remained cautious, in part due to geopolitical concerns and sluggish GDP growth.

FDI flows to Kazakhstan – the biggest of the nine landlocked CIS countries and the third largest recipient of FDI among transition economies – declined again. Large divestments brought FDI down by 18 per cent to $3.8 billion. -0-

spot_img

POPULAR

Cryptocurrency in Armenia: Stringent Regulations and Elevated Expectations

The future of cryptocurrencies in Armenia was a topic of discussion among participants at the Armenian Cryptocurrency Assets Forum, which recently took place in Yerevan.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Measures to encourage cashless transactions discussed in Armenia

The Armenian government, chaired by Prime Minister Nikol Pashinyan, convened a meeting yesterday to deliberate on initiatives aimed at promoting cashless transactions, the government press service reported.

ArCa payment system reinstated

The Armenian Card (ArCa) payment system has been completely reinstated, according to a report from the company's press service.

Acba Bank’s 66th branch launched

Acba Bank has launched its 66th branch, "Homeplex Mall". The branch is open from Monday to Sunday from 09:00 to 24:00 (cash service: 09:00-21:15).

LATEST NEWS

spot_imgspot_imgspot_img