The lower oil prices and the weaker exchange rates will stimulate export.

SMEs are the trigger of growth in CEE, with Bulgaria and Romania being among the strongest markets for UniCredit. This was said by Gianfranco Bisagni, Head of UniCredit CIB at the annual conference of Euromoney, which took place on 20th and 21st January in Vienna. He explained that the situation in each country of the region is different.

The expectations are for a growth in demand on the part of households in Poland and the Czech Republic and more opportunities for development of the business in these countries.

“A key role in the recovery of economic activity will be played by the lower oil prices and the weaker exchange rates, which stimulate export”, explained Gianfranco Bisagni.

In his opinion, CEE needs more external stimuli in order to generate bigger growth. Currently, analysts report weaker results of the export oriented companies, pointing at the conflicts in Ukraine and the Middle East as one of the main reasons for this. With a smaller amount of foreign direct investments in the CEE region, many of the countries will rely on the EU funds for fresh financial flows into the economy.

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