Are companies in Western Balkans prepared for another crisis?
BizLife 23.06.2022
Companies have so far gone through the pandemic better than initially feared: they lost 29 percent of their turnover and dismissed nine percent of their workforce, with the pandemic hitting particularly hard the sector of services with direct contact with customers and SMEs.
However, massive support of politics has helped prevent massive bankruptcies, with only three percent of companies in the region applying for bankruptcy or permanently ceasing operations. The Russian invasion of Ukraine and the economic crisis occurred precisely at the time when the Western Balkans was recovering from the shock caused by covid-19. A survey entitled “Business Resilience in the Western Balkans in Times of New Crisis”, presented by EIB Chief Economist
