The survey of directors of major companies in Baltics, executed by SEB bank this September, shows that the majority of large enterprises in the Baltic states are cautious in their forecasts of the growth of the business sector in the upcoming 12 months. Less than half (40%) of directors of major Latvian enterprises are convinced that 2020 will be favorable for business, while this opinion is shared by 49% of respondents in Estonia and 51% in Lithuania.
Whilst comparing with last year's results, the fraction of optimistically minded enterprises has undergone the largest drop in Latvia - from 56% in 2018 to 40%, whereas in Lithuania there has been only a minor decrease of 1% (from 52% in 2018). On the contrary, in Estonia the fraction of optimistically minded enterprises has undergone a slight increase of 1% from 48% in 2018. Simultaneously 10% of major enterprises in Latvia, 8% in Lithuania and 18% in Estonia are anxious of the upcoming 12 months being unfavorable for business.
Additional information and survey results on www.seb.lv
* The evaluation of Finance Directors in Latvia becomes more cautious.
* Majority of enterprises view the financial environment as favorable.
* The biggest concerns are raised over the prospects of economic development.
* There has been a joint increase in the desire of decreasing the amount of liabilities in all Baltic states.
* Minimal interest on the prospects of attracting foreign labor.
* Labor productivity is a current topic in all Baltic states.
* Automation and digitization are seen as founding blocks for future increase in productivity.
* Crisis in the eurozone and trade wars are considered to be the most significant risks to global economy.