Net FDI inflows soar 69% y/y to EUR 2.8bn in Jan-Sep.

Net FDI inflows soar 69% y/y to EUR 2.8bn in Jan-Sep. Data revisions based on transfer of inflows from the group of errors and omissions to direct investments in the country pushed up net FDI inflows by 69% y/y to EUR 2.8bn in Jan-Sep, according to preliminary data of the central bank. The change was even more impressive in terms of gross FDI inflows, which marked more than a twofold expansion due mostly to base effects from the merger and acquisition account. As recalled, net errors and omissions were initially reported at a net inflow of more than EUR 1.1bn in Jan-Aug but the figure was brought down by nearly EUR 900mn with the new data release on symmetric hikes in the inflow of FDI. The breakdown by economic sectors shows that 35% of the FDI inflows in Jan-Sep were directed to real estates and additional 9% to construction projects. Manufacturing firms attracted 21% of the total FDI inflow.