Speaking this morning at @ecb conference on challenges faced by #CESEE countries, their economic potential and importance, as well as new opportunities.
You can read my speech here đ
http://europa.eu/!xxQ3cp https://t.co/o21WXxmk6i
đŠđ: https://n.respublicae.eu/VDombrovskis/status/1680875707142905858
The repeated shocks of the last 3 years brought multiple challenges to companies across #CESEE.
But firms are taking action: they prioritize innovation, remain export oriented, & embrace advanced digital technologies.
â EIB Chief Economist @DeboraRevoltel1 at #emCEEForum
đŠđ: https://n.respublicae.eu/EIB/status/1613131827556003842
The repeated shocks of the last 3 years brought multiple challenges to companies across #CESEE. But firms are taking action: they prioritize innovation, remain export oriented, & embrace advanced digital technologies. â EIB Chief Economist @DeboraRevoltel1 at #emCEEForum
We launched the EIB Investment Survey 2022 focused on the #CESEE region at the #Euromoney Conference today. The survey covers financing issues & other challenges firms face such as investment needs, #ClimateChange, digital transformation & more https://bit.ly/3vXoe3w #emCEEForum
đŠđ: https://n.respublicae.eu/EIB/status/1613115332331192320
In Q2 2022, firms in Central, Eastern and South-Eastern Europe (CESEE) reported that their investment conditions had deteriorated drastically, and more than the EU average. They expected that business conditions in their sectors would continue to worsen, along with the general economic and political climate. And yet, on balance, firms in CESEE have planned to invest more in 2022 than they did in 2021. One source of impetus for this has been the pandemic, which prompted firms to become more digital, develop new products and shorten their supply chains. The use of advanced digital technologies has spread (internet of things, big data, artificial intelligence, 3-D printing, etc.): 67% of CESEE companies reporting using at least one advanced digital technology, narrowing the gap with the United States (71%) in line with the overall EU trend (69%). In response to pressure to adapt and innovate, a greater share of firms in CESEE intend to prioritise innovation over the next three years than in the European Union as a whole (27% versus 24%) or in the United States (21%).
Valdis Dombrovskis
European Investment Bank