Commentary
Society
SMEs Offer Solutions to Many Problems Facing the V4
27 January 2023
While the private sector can drive innovation, governments should erect and foster the pillars of the ecosystem that will support businesses. The task at hand is outside of the Visegrad governments’ comfort zone, but true transformation starts exactly there and is a way to escape the ‘middle-income trap’.
Recovery and resilience plans are upon us, in preparation for the transition, owing to last summer’s historical EU deal to rescue the European economy ravaged by the pandemic.
Accessing funds from the EU’s Recovery and Resilience Facility (RRF) is contingent upon drafting detailed national reform plans by member national governments, including implementation milestones.
The guarantee of a successful recovery spending is a high-stake challenge for the EU and Visegrad economies with softer institutional fundamentals in particular (Figure 1).
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