For the third year running across the Baltics, and for the fourth time in Estonia, KPMG has collected opinions from business leaders in Estonia, Latvia and Lithuania on the state of their national economies and the outlook for their companies. Based on the feedback from about 260 respondents we charted the trends and developments in three countries that have showed significant economic recovery in recent years.

There are obvious signs of confidence among the top players of Estonian, Latvian and Lithuanian businesses, indicated either by further expectations of a sound GDP growth ranging from two to four percent, or by an intention to raise salaries and hire more staff. According to the survey, conditions for doing business in the Baltics are seen as satisfactory, which does not mean that further discussions of how to remain competitive are unnecessary.

Here are several other conclusions from the survey results:

• According to Estonian experience the euro hiked salary expectations, Latvians find it not likely;
• Nuclear energy losing ground as local sources gain support;
• CSR perceived as part of business strategy.

Please follow this link to view the full report.