Belgium, (Brussels Morning Newspaper) The energy crisis and war in Ukraine have combined to seriously dent hopes of an economic recovery in Europe,says the SME Business Climate Index.
Even if the results for the last semester are significantly above expectations, the survey reports a 2.8% decline in SMEs’ confidence for the future.
Speaking on Friday, Petri Salminen, SMEunited president, said, ”Worrying economic circumstances such as rising energy prices, supply chain disruptions and inflationary pressures were the main reasons for the worsening business confidence.”
He added, “SMEs with a strong presence in the construction sector have been further hit by high-interest rates on mortgages,” said Petri Salminen, SMEunited President.
