ECONOMY

Investment capital still taking flight

Direct investment in Greece showed a net outpouring of 115 million euros in the year?s first five months, compared with a net inflow of 458 million euros in the same period of 2010, according to data released by the Bank of Greece this week.

The outgoing Greek capital for direct investment abroad came to 423 million euros in the year to end-May, while incoming capital amounted to 308 million euros.

However, as far as May in particular is concerned, direct investment showed a net inflow of 227 million euros, mostly thanks to the 400 million euros paid by US company Watson Pharmaceuticals Inc for the acquisition of Specifar Pharmaceuticals SA.

Portfolio investments posted a net outpouring of 9.7 billion euros in the January-May period, against 8.8 billion a year earlier.