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picture News March, 9 2021
image: A very fresh Eastern European Outlook A very fresh Eastern European Outlook

Officially released at 09.00, Wednesday October 9th, the participants at this autumn’s focus Round Table Meeting, could take part of SEB’s Eastern European Outlook just a couple of hours later the same day.

“Estonia’s growth will plunge to 1,3% this year in the wake of falling public investments and sagging exports. A continued downturn in EU funds will lead to a weak capital spending picture, contributing to GDP growth that will reach a modest 2,6% in 2014 and 2,9% in 2015“, says SEB’s October 2013 Outlook.

As for Sweden, Daniel Bergvall, Economist at SEB in Stockholm, quoted SEB’s August 2013 Nordic Outlook:

- We have revised our full-year 2013 Swedish growth forecast downward from 1,3 to 1,2%. Looking ahead, we have revised our GDP forecast for 2014 slightly upward to 2,6% and we expect a further acceleration to 3,2% once the world economy takes off in 2015.

- However, it is the US that holds the key to global recovery, concluded Daniel Bergvall.

Connecting to the US’ role in global recovery, Peeter Koppel, Private Banking Strategist at SEB in Tallinn, put attention to the recent US shutdown and introduced us to Bizarro World.

- The current Bizarro World, also known as Planet Earth, is home to central bankers and their companions, and also other Bizarros including politicians, the world’s worst managers, said Peeter and underlined that this was not a presentation of SEB’s official views.

- This is a tongue-in-cheek illustrated monologue, constructed to joke about things that are not supposed to be joked about and to challenge mainstream views, continued Peeter.

A full report from the Round Table Meeting will be published in the next issue of SCCE’s magazine focus.

On behalf of the SCCE Council, I would like to thank Daniel Bergvall and Peeter Koppel for their presentations. My thanks also go to Mikael Orkomies, Partner at Excedea, who moderated the interactive and lively discussion among all participants. Last but not least, I would like to thank Restaurant Köleri 2 for a very nice and cozy meeting set up and a delicious lunch buffet.


Kristiina Sikk
SCCE Ombudsman

read more:
· SEB Outlook

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