May 10 (SeeNews) - The net inflow of foreign direct investment (FDI) to Montenegro jumped to 58.73 million euro ($63.03 million) in the first month of 2024, from 11.54 million euro in January 2023, the country's central bank said.
Total FDI inflow increased by 96% on the year to 85.97 million euro in January 2024, thanks to rising investments in domestic companies and banks and higher investments in the form of intercompany debt, the central bank, CBCG, said in its latest monthly statistical report published on Thursday.
The inflow of investments in companies and banks soared 450% on the year to 23.1 million euro in the first month of 2024, while investments in real estate rose by an annual 21% to 29.4 million euro.
FDI inflow in the form of intercompany debt rose 37% on the year to 31.9 million euro in January.
At the same time, total FDI outflow fell 16% on the year to 27.24 million euro in January, with withdrawal of non-residents' funds invested in Montenegro amounting to 19.84 million euro, while investment of residents abroad totalled 7.40 million euro.
In 2023, Montenegro's net FDI inflow fell 45% to 429 million euro after rising 35% to 783 million euro in 2022.
($ = 0.932 euro)