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Oct 10, 2007 18:51 EEST
October 10 (SeeNews) - Foreign direct investments (FDI) in Croatia rose to a preliminary 2.15 billion euro ($3.04 billion) in the first half of 2007, up by almost 60% from a year earlier, Raiffeisenbank Austria Zagreb (RBA) said on Wednesday.
"However, the bulk of the growth was generated by strong investment inflow in the first three months, as in the second quarter FDI slightly fell on the year," RBA said in a note, quoting central bank figures.
Austria was the largest single foreign investor in Croatia in the first half of the year with over 1.43 billion euro, followed by Belgium and Germany, both with 253 million euro, RBA said.
According to RBA, the biggest part of the FDI in the January-June period, or around 1.03 billion euro, went to Croatia's financial intermediation sector, followed by investments in supporting and auxiliary transport activities, 156 million euro, in the post and telecommunications sector, 107 million euro and in hotels and restaurants, 83 million euro, it added.
RBA analysts expect the rise in FDI to continue in the second half of the year, exceeding the record-high inflow of 2.71 billion euro in 2006.
"In the conditions of relatively high current account deficit, the high FDI Inflow cuts the pressures on the foreign debt growth," RBA said.
($= 0.7064 euro)
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