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Armenian government intends to bring FDI to GDP ratio to 6% in 2026 – Kerobyan

10.04.2023, 10:44
The Armenian government's goal is to bring the ratio of foreign direct investment (FDI) to GDP to 6% in 2026, Economy Minister Vahan Kerobyan said last week.
Armenian government intends to bring FDI to GDP ratio to 6% in 2026 – Kerobyan

YEREVAN, April 10. /ARKA/. The Armenian government's goal is to bring the ratio of foreign direct investment (FDI) to GDP to 6% in 2026, Economy Minister Vahan Kerobyan said last week.

He said in 2022, FDI in Armenia's economy reached $998.1 million, accounting for 5.12% of GDP. In 2021, the figure was $366.4 million, or about 2.5% of GDP.

According to official statistics, the total foreign investments to Armenia in 2022 amounted to 196.7 billion drams, down from 208.9 billion drams in 2021. Of all foreign investments in 2022, some 181.8 billion drams were FDI, up from 121.6 billion in 2021.

Russia accounted for the largest amount of net investments in 2022– about 158.6 billion drams. Of that amount, 109 billion drams were FDI.

Investments from Cyprus amounted to about 15.4 billion drams, including about 10.3 billion drams of FDI. Italy was third in terms of investing in Armenia -8 billion , including 6.6 billion drams of FDI.

The bulk of foreign investments was channeled into real estates (62.3 billion), metal ore mining (45.4 billion) and supplies of electricity, gas, steam and purified air (33.7 billion). ($1 - 388.43 drams). -0-