OREANDA-NEWS. December 02, 2014. The October 2014 survey, carried out by SEB among large enterprises in the Baltic States, showed that more than half of the CEOs believed that their company’s turnover will increase by more than 10% next year.

The most optimistic companies in the Baltic States were found in Latvia, with 66%, and the most pessimistic in Estonia, with 34%. Compared to the survey carried out in March, the optimism of the CEOs of large enterprises in the Baltic States regarding the increase in turnover has fallen by 12%.

Indrek Julge, Member of the Management Board and the Head of SEB Corporate Banking: “We are happy to see that more than half of the large enterprises in the Baltic States continue to have a positive outlook on the future – as they are the ones that set the pace of economic development in key areas. Although the degree of cautiousness expressed by the companies has increased in the last six months, from 26% to 33%, they remain convinced of their financial capabilities and have high regard for the bank’s ability to finance new development projects.“

The survey revealed that Baltic enterprises are not concerned about the potential rise of loan interest rates, and an increasing number of CEOs believe that interest rates may even drop. The assessment of the enterprises regarding the availability of financial resources is either positive or very positive, in general. This pleasant assessment goes well with the economic analysis from the second week of November, by SEB analyst Ruta Arumae, stating that “the economy has turned to growth again”.

The survey carried out in the autumn of 2014 focused on large enterprises with an annual turnover in excess of EUR 20 million. The survey was carried out as the continuation of a similar survey that took place in March 2014. The results of the survey indicate an increased level of cautiousness by the companies and a desire to somewhat slow down their active expansion.

The commentary by Ruta Arumae is available at http://www.seb.ee/uudised/