Dio director general: Hard Year for Business
The year of 2019 was a very hard period for business, Dio company director general Tamaz Daushvili told Business Morning.
The company has faced serious problems, Daushvili added.
“Everybody recognizes that the year of 2019 was a heavy period for business and our company, as well. During the 23-year history of Dio company, there were several decisive periods – 2008-2009 economic collapse and the 2013 and 2019 crisis years. Companies bear serious losses”, Dausvhili said.
Any economic failure doubles losses in this phase of development, he said.
‘There are objective and subjective factors. I think the 2013 failure has affected the sector and the effects are surfaced now. The 2013 crisis generated other problems too, regional crisis, GEL depreciation, Larization, regulations and so on. Maybe nobody expected in the Government that political developments would worsen in this way. I think the Authorities should be always ready for similar developments.
As to figures, our company has increased in GEL, but product sales declined and we have a downturn in USD. This is a paradox. We are import-dependent country, import is corrected and it declines, payment balance may have been improved, but when imports decline, this generates a slowdown. We have 4-5% economic growth, but the effect shrinks and it is not reflected on public welfare. Our citizens incomes decline, not grow”, Daushvili said.