Thursday, October 21, 2021

Germany, France and Italy Beat China in Investing in Russian Economy

Germany, France and Italy were the three biggest investors in the economy of Moscow, the Russian capital in 2017, while worlds second biggest economy by GDP, China, stood at 10th Place. India, a key partner of Russia, was no where in the top 10 spot. 

This was stated by head of the Moscow department of foreign economic and international relations Sergei Cheremin. The cumulative amount of direct accumulated foreign investments in the the Russian Capital reached about $280B.

According to Cheremin, economic sanctions forced by certain naitons against Russia have had zero impact on Moscow’s economy. There was a minor slump at the end of 2014, but the situation came rapidly came back to normal, he said.

Their capital continued to increase, and by the end of 2017, the amount of direct accumulated foreign investments in the Moscow’s economy amounted to nearly $280B. The biggest nations in terms of investment in the Russian capital were Germany ($8.8B), France ($4.6B) and Italy ($3.6B),” Cheremin said.

Among top ten countries in terms of investments in Moscow’s economy were  Austria ($3.5B), the US ($1.5B), Japan ($1.4B), UK($1.2B), Sweden ($1.1B), Kazakhstan ($1.1B), and China ($0.9B).

More News at EurAsian Times

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