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Economic Integration and Business Development Opportunities in the Balkans

Economic Integration and Business Development Opportunities in the Balkans. Anthony Bartzokas EBRD Board Alternate Director FING – EBRD BUSINESS DEVELOPMENT WORKSHOP 29 May 2013 Thessaloniki, Greece. Outline. The objective of the joint workshop: B2B meetings

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Economic Integration and Business Development Opportunities in the Balkans

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  1. Economic Integration and Business Development Opportunities in the Balkans Anthony Bartzokas EBRD Board Alternate Director FING – EBRD BUSINESS DEVELOPMENT WORKSHOP 29 May 2013 Thessaloniki, Greece

  2. Outline • The objective of the joint workshop: B2B meetings • Investment recovery in a constrained capital market • Growth and regional integration • Adjustment challenges for Greek firms • Joint IFI Action Plan for Growth in Central and South Eastern Europe

  3. Divergence of interest rates on new loans in the Eurozone Source: ECB, March 2013

  4. Obstacles for Greek export oriented firms Source: NBG SMEs Report, March 2013

  5. ICAP Investment Survey: Market orientation of new investment Source: ICAP, Greece (Survey of 1.095 Firms with annual turnover ≥ € 1 m.)

  6. International patterns of post-recession investment (272 recovery episodes) Source: Naotaka Sugawara and Juan Zalduendo (2013) Credit-less Recoveries Neither a Rare nor an Insurmountable Challenge, World Bank Working paper No. 6459.

  7. Economic growth trends in the Balkans: GDP growth (y-o-y) Source: National statistical offices.

  8. Bilateral trade flows have declined Exports to Greece (2005=100) Imports from Greece (2005=100) Source: Bank of Greece

  9. Business development obstacles in South East Europe (BEEPS 2008/2009 – per cent deviation from country average) Source: EBRD and World Bank, Business Environment and Enterprise Performance Survey IV

  10. Structure of Bulgarian Imports from Greece in 2011: Increasing Share of Consumer Goods Structure of Bulgarian Imports from Greece in 2008 Source: Bulgarian National Bank

  11. Greek export oriented SMEs in South East Europe Source: NBG SMEs Report, March 2013

  12. Drivers for outward oriented Greek SMEs Source: NBG SMEs Report, March 2013

  13. Greek outward FDIs: challenges for adjustment

  14. IFI Action Plan for Growth in CESEE • EIB, the World Bank and EBRD new Action Plan of over €30 bn ($38 bn) in 2013-2014. • Focus on investment driven growth, not “crisis management” • Elements: • Special attention to export-led growth and trade integration • Both banking and corporate sector restructuring support for synergies • Acceleration of the use of EU structural funds • Targeted policy advice support (corporate restructuring, NPL/distressed asset management, etc.) • EBRD geographical focus is the Balkans, the hardest hit region.

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