Foreign investments down 4.5% ( 2008-07-11)
| PODGORICA – Investments in real estate lowered, while investments based on inter-company debt increased. Central Bank of Montenegro has registered decrease of investments second consecutive day. The first decrease of 2.7% was registered in the first four months. The value of direct net foreign investments, i.e. in-flow and out-flow ratio, in the first five months was up 5% to EUR 251.7mn. Investments in real estate lowered, while investments based on inter-company debt increased. Foreign investments in Montenegrin companies and banks accounted for 40% in the structure of in-flow. EUR 142.8mn was invested in real estate; intercompany debt amounted to EUR 88mn, while EUR 2.2mn concerned withdrawal of invested capital abroad. Based on direct foreign investments in the first five months, EUR 137.1mn, i.e. 18.4% less than in the comparable period, out-flowed. The largest part of that amount or 65.3% concerned real estate. EUR 71mn concerned withdrawal of foreign capital invested in Montenegrin real estate. This means out-flow of non-residents’ investments in real estate in Montenegro was down 32%.Residents spent EUR 18.4mn on the purchase of real estate abroad in the first five months or 10% more than in the same period last year. Of overall out-flow, EUR 23.4mn concerns investments of Montenegrin companies abroad, while EUR 17.7mn concerns withdrawal of foreign capital from local banks and companies. Intercompany debt and withdrawal of capital from the largest Montenegrin company amounted to EUR 6.4mn. (Mina Business) |
