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Georgia reports drastic decrease in foreign direct investment

Xinhua, December 10, 2015 Adjust font size:

Georgia on Wednesday said the country only had slightly more than 1 billion U.S. dollars worth of foreign direct investment in the past three quarters of the year.

The foreign direct investment in the first nine months totaled 1.019 billion U.S. dollars, a drop of 17 percent year on year, according to data released by Georgian state statistics office Wednesday.

Most of Georgia's foreign direct investment came from Azerbaijan, the Netherlands, Turkey, China. And the foreign direct investment went to sectors such as transport and communications.

Analysts believed the decreased inflow of foreign direct investment constituted one of the main factors for the continuous devaluation of Georgia's currency lari in the year of 2015.

Earlier data showed lari depreciated 30 percent against U.S. dollar in the first 10 month of the year. Endit