A deeper and more protracted global economic slowdown is one of the key risks facing the Central & Eastern European region, according to Unicredit CEE senior economist Mauro Giorgio Marrano.

Photo: Mauro Giorgio Marrano of UniCredit delivered the opening keynote address

He outlined the factors that could derail growth in the region during his keynote presentation under the theme of “bracing for external headwinds” at Mergermarket’s CEE M&A and Corporate Financing Forum 2019.

His comments come off the back of stable M&A volumes in Central & Eastern Europe in 2018.

The CEE region has benefited from efforts by governments across the region to increase foreign direct investment. In a recent survey, a skilled labor force and relatively low costs were cited as two factors that have helped to drive international investor confidence.

Photo: Corporates, private equity investors, bankers and advisors from 28 countries attended.

Marrano noted that the risks of the US entering recession continue to rise, with a downturn expected in 2020. European economies will find it difficult to decouple from the trend of declining global growth, he said.

Brexit is already having an effect on CEE countries, as the trade balance with the UK continues to worsen and historic migration patterns show signs of a reversal.

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Photo: Mergermarket's CEE conference.