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NEWS - 12. November 2019 18:45

SEB CFO Survey: Confidence among large Baltic enterprises is highest in Lithuania

In comparison with last year, the October survey, carried out among the CFOs of large Baltic enterprises, shows that CFOs in each of the Baltic Republics have grown more cautious in their assessment of the business environment. Even so, the change was only marginal in Lithuania.

This year’s survey revealed that 51 per cent of Lithuanian CFOs believe that the business climate will become favourable for their enterprise over the next 12 months. CFOs in Estonia have grown slightly more sceptical – while 51 per cent of Estonian enterprises saw the business environment as favourable last year, in 2019 the number has fallen to 48 per cent. Latvian enterprises are rather pessimistic regarding the foreseeable future: while in the 2018 survey 52 per cent of respondents were expecting favourable business conditions, today the number is only 39 per cent.

Lithuanian enterprises are the most optimistic when it comes to the business climate

In the fresh survey, Estonia also stands out with the highest proportion of pessimists: nearly one in five (19 per cent) of the respondents considered business conditions for the future to be unfavourable. In Latvia and Lithuania, the corresponding share is around 10 per cent.

‘The results of this survey of CFOs fit in well with global trends. The slower growth of the global economy has made enterprises slightly more cautious when it comes to the future. Even though the economies of the Baltic Republics are facing a slowdown according to the forecast, economic growth here remains much faster than the European average and offers entrepreneurs an abundance of opportunities for growth,’ commented Artjom Sokolov, Head of Corporate Banking.

About the survey

SEB organised the Survey of CFOs in the Baltic Republics for the seventh time. The focus of the survey is the assessment of enterprises concerning the state of the economy, key problems, and opportunities in the business environment. This year, a total of 209 enterprises, each with a minimum annual turnover of at least EUR 20 million, participated in the survey.

Дополнительная информация:

Эвелин Аллас
руководитель по связям с общественностью

телефон +372 665 5649
мобильный +372 511 1718
адрес Торнимяэ 2, 15010 Таллинн

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