TCG's CEO is quoted in the Financial Times
The Change Group's CEO quoted in the Financial Times
Optimism in the Baltics as trio shows signs of recovery
The Financial Times, By Andrew Ward
Published: June 14 2010 18:30 |
.........“Estonia has benefited from its proximity to Finland,” says
Sacha Zackariya, chief executive of The Change Group, a UK-
based currency exchange business that operates in Tallinn. “That
has made it more market orientated. Latvia has taken a bit longer
but it is moving in the right direction.”
Estonia ranked 24th in the latest World Bank ranking of the
easiest countries in which to do business, one place ahead of
Germany and well in front of France, Spain and the Netherlands.
Lithuania and Latvia ranked 26th and 27th, respectively.
.......... Mr Zackariya, at The Change Group, says a correction was
inevitable after years of unsustainably fast growth that eroded
the region’s cost competitiveness and funnelled investment into
unproductive sectors, such as real estate.
“We’re seeing a healthy rebalancing of the economy and a
refocusing of investment on productive sectors,” he says.
Article published in FT.com
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