Innovation is firms’ and enterprises’ lighthouse in the economic storm
Estonia has to cope with very high inflation and a recession in the second half of the year when the economy will decline by 3%. Perfect economic storm.
Estonia has to cope with very high inflation and a recession in the second half of the year when the economy will decline by 3%. Perfect economic storm.
Fintech is one of the fastest growing sectors to the Baltic, with 118 of about 400 start-ups in 2021 (+57% to 2019).
Lithuania’s growth forecast is revised down. Increased prices of food and energy slow down growth in trading partners, when it’s necessary to cut market distortions.
The Estonian IT sector is the most competitive in CEE, thanks to its business environment and the implementation of online services.
Despite firms only need certainties, EU keeps deducting from Poland as a result of not complying with the judiciary. But Warsaw could spoil the Fit for 55 climate packages.
Poland has launched the Baltic Pipe, the infrastructure which will deliver 6.5 billion cubic meters of Norwegian gas in 2023.
Despite retail sales in Poland rising by 4.2% YoY in August, with the inflationary everything-bubble prospects for upcoming quarters are deteriorating.
The culture of knowledge and experience sharing attracts more talent and creates the breeding ground for more innovation and European leadership.
In Latvia, the average remuneration has risen by 8.3% YoY, but this rate is insufficient to offset the price surge (+16.4%). Free-market allocation is much needed.
Energy independence, the fight against the shadow economy, digitization, stability and rule-of-law are essential for Latvia’s competitiveness and FDI attraction.