BUSINESS

Investment in industry set to keep growing

TAGS: Economy

Greek industries spent much more in investments last year compared to 2017, in response to increased demand and technological developments, according to a survey by the Foundation for Economic and Industrial Research (IOBE).

The report pointed to a 27.3 percent rise in industrial investments last year over the year before, and forecast a further annual increase of 31.5 percent this year. It added that the companies that avoid making investments, or choose to invest little capital, do so mainly because of the government’s overall economic policy.

The sector with the highest investment growth last year compared to 2017 was that of food, drinks and tobacco, with a 28.8 percent rise. This sector is of particular significance for Greek manufacturing and is also export-orientated. It was followed by the chemicals sector, which posted a 26.1 percent annual increase.

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