FDI up 80.8% y/y in 2Q15
FDI in Georgia increased 80.8% y/y in 2Q15 to US$ 354.7mn and +4.8% y/y to US$ 530.0mn in 1H15, according to GeoStat’s preliminary figures. The transport and communications sector was the largest FDI recipient at US$ 207.4mn, increasing 83.7% y/y and accounting for 58.5% of total, followed by the financial sector at US$ 41.2mn (11.7% of total), and the manufacturing sector at US$ 29.5mn (-49.0% y/y, 8.3% of total). Azerbaijan topped the list of investors with US$ 160.2mn (+105.1% y/y, 45.2% of total), followed by the EU at US$ 144.8mn (-24.4% y/y, 40.8% of total), and Turkey at US$ 41.0mn (+101.3% y/y, 11.5% of total).
Gross international reserves stood at US$ 2.5bn at end-August 2015
Gross international reserves stood at US$ 2.5bn (+0.7% m/m, +US$ 16.1mn), and net foreign assets of NBG at US$ 2.2bn (+0.8% m/m, +US$ 17.2mn) as of end-August 2015, according to NBG. The central bank has not intervened on the FX market since April 28, 2015. The increase in FX reserves was likely due to government FX operations and/or asset revaluation.
