Ukrainian millionaires continue to feed Cyprus

Ukrainians take out money from the country

In brief: Cyprus has become a new haven for the Ukrainian capital. Growth rate of false investment in the economy of Cyprus is growing.

Ukraine during the first quarter of 2010 invested in objects other countries 587,800,000 dollars, which 8.4 times the figure for the entire year 2009. Direct investments from Ukraine were carried out in 47 countries, from 93,4% of them were sent to Cyprus.

Why does the money go from Ukraine abroad explained economic expert Sergey Kiselev: “This trend is related to the desire to preserve accumulated. In practice, since 2008, was the question of how not to lose and increase savings. Accordingly, the purpose of investment have become the objects to Egypt, Greece, Cyprus : Real estate in these countries enjoyed considerable demand. People try to find opportunities to invest abroad. For example, the same property in many EU countries is much cheaper than in Ukraine. Yet the question can not be completely ruled out withdrawal of money in Ukraine, for Cyprus, despite the EU membership remains an offshore zone.

According to official statistics, investment in Ukraine has always been less than investment from Ukraine. In Ukraine, there are convenient mechanisms which could invest the money, especially for the middle class. One of those is a bank deposit. But the past years 2008 and 2009. subjected to this mechanism doubts about its reliability. Stock market in Ukraine is not yet adequately developed, moreover, his fall was caused also by the global crisis. The real estate market has been frozen. Therefore, those who have opportunities to invest in facilities abroad.” It should be recalled, that for the first quarter of this year, investors have invested in the economy of Ukraine 717.1 million dollars of direct foreign investment, representing 61% of the proceeds of the first quarter of last year.

Ukrainian Globalist
2010-06-27 09:38, Economics.

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