Austria, Germany and Saint Vincent and the Grenadines are the biggest investors in Macedonia

Austria, Germany and Saint Vincent and the Grenadines are the biggest investors in Macedonia
Austria, Germany, the Caribbean island of Saint Vincent and the Grenadines are the countries that have the biggest inflow of foreign direct investment in the first nine months this year. At the same time, a record sum of money flowed to the United Kingdom and the United States.

The National Bank of Macedonia reported catastrophic data on the inflow of foreign capital in the first three quarters this year of only 45.6 million euros, the lowest level in the last ten years. Statistics of the National Bank show that, in September, the investments were 54.1 million euros lower, and in August there was an outflow of 9.7 million euros.

There was positive balance of foreign investments in July, when a foreign capital inflow of 6.1m euros was registered. Compared to the same period last year, foreign direct investments were even lower by EUR 145.6 million.

The largest investor in Macedonia this year is Austria, from which foreign inflow of 23.6 million Euros was registered, and 23 million euros were invested from Germany. The fourth largest investor is Luxembourg with investments of 13.3 million euros, followed by the United Arab Emirates (UAE) with a total direct investment of 5.3 million euros in nine months.

On the other hand, a total of 76.3 million Euros left Macedonia and went to the United Kingdom, and an outflow of 13.7 million euros was registered in the United States.

Three million euros were spent in nine months in Kazakhstan and Switzerland, and 2.7 million in the Netherlands.

The capital outflow is due largely to the withdrawal of money from daughter companies to foreign companies operating in the country.

In addition to direct investments in Macedonia, investments of Macedonian companies abroad have been reduced by about 5 million euros. This means that domestic companies have withdrawn their investments outside the country.

National Bank statistics show that 11 million euros were withdrawn from the state of Curacao, an island in the Caribbean Sea, which not many people in Macedonia have heard of, and just over five million euros were withdrawn from the investments of Macedonian companies in the Netherlands.

In the first three quarters this year domestic companies mostly invested in the neighboring countries. Thus, in Slovenia, investments of total 5.5m euros were registered, 3.2m euros in Serbia, and 1.5m euros in Bulgaria.

Direct overseas investments include transactions between domestic direct investors and non-resident enterprises in which they invested, regardless of whether they are making liabilities, or receive from abroad.

Aleksandra Spasevska

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