Georgia: main funding source continues as FDI inflows

(MENAFN) Georgia's main funding source for the second quarter of this year is inflows of Foreign Direct Investment (FDI), which stood at 6.6 percent of gross domestic product (GDP).

TBC Bank of Georgia revealed that "at the same time, over the first six months of 2019 the National Bank of Georgia bought $216 million or around 3 percent of the same period GDP, indicating that the inflows were sufficient even for higher growth."

During the three-month period, trade in Georgia was also encouraged by better balance trend as it reached 6.2 percent in the deficit.

According to the bank, "the positive tendency has likely sustained in 2Q as well, judging from the trade balance, tourism and remittances inflows as above described figures suggest. Over the last 4 quarters (3Q2018-2Q2019), the current account deficit to GDP ratio stood at 6.4 percent, also improving by 1.3 percentage points compared to the previous quarter."

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