BAKU, Azerbaijan, August 6
By Tamilla Mammadova – Trend:
Business Association of Georgia (BAG) surveyed the business community to study their plans for the near future, Trend reports citing Georgian media.
As it turned out, 43 percent of businesses are set to cut investments compared with 2019, while 29 percent, on the contrary, will increase their volumes.
As reported, the results of the survey differ significantly from the results for 2019.
In particular, 59 percent of companies planned to increase investments in 2019 but were forced to revise their plans due to uncertainty and the economic downturn caused by the pandemic.
Trade, services, industry and construction were hit more than other sectors of economy.
Sixty-three percent of businessmen said they increased a volume of investment in trade in 2019 in comparison with 2018, but in 2020 are set to reduce.
Only 23 percent of trading companies plan to increase their investment, the survey results show.
Seventy-three percent of businesses in the industry increased investment in 2019; in 2020, only 43 percent of companies are going to pour more money, and in the service sector, the number decreased from 64 percent to 23 percent.
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