Georgian companies  set to cut investment in 2020

Georgian companies set to cut investment in 2020

access_time2020-08-06 08:00:33

Business Association of Georgia (BAG) surveyed the business community regarding their plans for the near future.

As it turned out, 43% of businesses are set to cut investments compared  with 2019. 29%, on the contrary, will increase their volumes.

Still  the results of the survey differ significantly from the results for 2019.

 

In particular, 59% 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.

63% 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% of trading  companies plan to increase their investment.

73%  of businesses in the industry increased investment in 2019; in 2020, only 43% of companies are going to pour more money, in the service sector their number decreased from 64% to 23%.



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