Aleš Blažek

20 YEARS IN EU 🇪🇺 Celebrating 20 years since Slovakia entered the European single market in panel discussions with representatives of EIB, European Commission and National Bank of Slovakia. Thanks for the invitation 🙏 and opportunity to share our views on what needs to be done in order to repeat Slovak success story once again! Preparation for demographic changes, increase investments into R&D, support innovation culture and improvement of digital skills are just a few examples we recommend in our Prosperity Index. #Slovenskasporitelna #Research #IndexProsperity

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Choosing a Reliable Payment Service Provider in the Baltics – Mission (Im)Possible? Proud to lead Neopay, the largest PIS provider in Lithuania with a 36% market share. Neopay, a brand of NEO Finance, AB, listed on NASDAQ Baltic First North, is committed to secure and efficient payment solutions. The fintech landscape in Lithuania is booming, serving over 30M customers across Europe. With such rapid growth, finding a trustworthy payment partner is increasingly challenging. In my latest article, I discuss the key criteria businesses should consider when choosing a payment service provider, focusing on security, flexibility, and financial stability. Read the full article here: https://lnkd.in/d36vJvab #fintech #payments #Neopay #NEOFinance #securepayments #businesssolutions #Baltics

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🌟 Curious to find out how ESG is changing the world of business and finance? Petr Fiala, the Head of Trade Finance & Factoring at Raiffeisenbank Česká republika responded in a short video below. 🎥🌱 👉 Stay tuned about the Summit with just 2 days to go: https://www.ceesummit.org #CEESummit2024 #ISFC #financeforimpact #Sustainability #SustainableFinance

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#NPLDaysEuropeSummit2024 What are the future risks and strategies for Sub-performing Loans in CEE? Do we see transactions and where could be found the opportunities? Are we facing any "Boiling Frog" Syndrome while the volatility increases? I am happy to co-panel on such topics with the leading restructuring experts in Barcelona.

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Poland's economy has more than doubled since it joined the #EU in 2004. Who would have predicted this economic miracle when UNIQA Insurance Group set foot in #CEE more than 20 years ago? Today, around 80% of our groupwide customers come from the CEE region and around half of these are from #Poland!   Also, Poland is a very important pillar in our CEE-expansion strategy supported by the very successful post-merger integration of the former local AXA subsidiary.   In a short radio report about the economic miracle in Poland by ORF, I was asked about our experience there. To me, one of the key success factors is the strong expertise of our Polish colleagues and their open mindset towards our agile cross-country collaboration-model – #commUNIties – from which we benefit throughout the entire group!   For more insights into Poland's remarkable transformation, give the radio report a listen (broadcasted only in German) – you can find it in the video below.    UNIQA Polska

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It is my pleasure to announce that the working paper I am coauthoring (together with Janusz Jablonowski, Michal Sasiela and Zbigniew Żółkiewski is out as a NBP Working Papers No. 369, available to download and read at: https://lnkd.in/g-ymApWN Abstract: The aim of this paper is to assess the impact on the Polish economy of energy price shocks arising after the Russian invasion of Ukraine. We computed both the impact of the energy shocks (separately for gas, oil and coal prices) on the real side of the economy, and the pass-through of energy prices to the overall price level. The former part of the analysis was simulated using a computable general equilibrium (CGE) model of the Polish economy while the price effects of the shocks were simulated using a dual Leontief price model. Additionally, the price model was augmented with the mechanism of nominal wage adjustment suggested by the theory. This methodological novelty is our original contribution to empirical economics. Our simulations indicate that the price shock for all energy goods of the magnitude observed in 2022 resulted in a decrease in GDP of about 2.9% relative to the baseline solution. Moreover, we document a strong pro-inflationary effect of rising energy prices. After a combined shock to energy prices the consumption deflator increases by 10.3% (when we include the spreading the price increases across the industries), but the effect is simulated at 15.4%, when we account for an additional nominal wage adjustments (ensuring no real wage changes). We show that due to the differences in forward and backward propagation of shocks, the oil price shock had the strongest impact on real aggregates, whereas prices were hit the strongest by the gas price shock.

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