The net foreign direct investment (FDI) in North Macedonia plunged sharply to €25.7mn in the first quarter of 2021 from €140.7mn in the same period a year earlier, preliminary central bank data indicated.
North Macedonia’s PM Zoran Zaev announced several huge investments in the coming period including that of German retailer Lidl, which is set to open the first stores in the country.
First quarter’s FDI was a result of increased reinvested earnings and equity (by €95.5mn and €33.9mn respectively), amid reduced intercompany debt bby €103.7mn, the central bank said on May 31.
In March alone, the FDI totaled €35.6mn, compared to €109.6mn in the same month last year.
In 2020, the net foreign direct investment (FDI) in North Macedonia fell to €238.9mn from €399mn a year before, due to the economic effects of coronavirus pandemic on the economy.
The World Bank said recently that North Macedonia’s current account deficit widened slightly, to 3.5% of GDP for 2020, and net FDI was almost halved as previously announced foreign investments got delayed.