Investment Outflow Figures Increase for the Second Financial Quarter

What has caused the increase in investment outflow during the second quarter of 2013? According to the preliminary National Statistics Service data, an investment outflow of $247 million was registered during the period between April and June. The figure was a mere $95 million during the same period in 2012. Zurab Tkemaladze, the Chairman of the Parliamentary Commission on Branch Economics, has linked the investment drain process to the upcoming presidential elections, stating that such processes are a normal occurrence in a pre-election period.
According to Gigi Tsereteli of the United National Movement, the high investment outflow is linked to the political instability in the country. Due to the low economic growth and the government’s initiatives, the environment is currently unfavourable for investors, Mr. Tsereteli states.
The first two financial quarters of 2013 have seen an investment outflow totalling of $347 million.