A vibrant technological ecosystem, driving massive amounts of M&A transactions in Turkey and continuing the trend of 2021 well into this year, is the most important recent takeaway, according to Nazali M&A Partner Nilay Duran.

The EU-imposed sanctions on Russia have generated significant movements throughout Europe, and Croatia has felt the ramifications as well – leading to a lot of work and some economic uncertainty, according to Ostermann & Partners Partner Vjekoslav Ivancic.

The prospective tax and retail business nationalization-related reforms, together with war-related sanctions, are the major discussion topics in Hungary, according to Bittera Kohlrusz & Toth Partner Milan Kohlrusz.

The Russian aggression in Ukraine, raging for more than two months now, has affected the Czech Republic to a significant extent, impacting the prices of energy across all sectors. Coupled with the rising levels of inflation, the country finds itself out of balance, according to Rowan Legal Partner Jan Frey, who says it is quite hard to predict what the rest of the year will bring.

With the effects of the war in Ukraine remaining difficult to predict, there is ample work generated by the sanctions alone, according to Schoenherr Partner Martin Ebner.

Political uncertainties, surging inflation and energy prices, and, despite it all, a vibrant and diversified economy are the key points of current events in Albania, according to Frost & Fire Consulting Partner Reshard Kellici.

The major challenge faced by Serbia’s recently elected parliament is dealing with the war-related crisis, in particular, in the field of energy, according to Vulic Law Managing Partner Milos Vulic.

The record year for M&A transactions, the emergence of new startups, and a new draft on company law get lawyers talking in Lithuania, according to TGS Baltic Partner Dalia Tamasauskaite-Ziliene.

With inflation making its way through Europe, Romania was hit as well but the economy is still developing steadily, with energy, real estate, and infrastructure the sectors to look out for, according to MPR Partners Partner Dana Radulescu.

Montenegro’s new economic plan, together with tax and insurance-related reforms, aligns with the country’s aspiration to become an attractive destination for foreign investors and digital nomads, according to Milena Roncevic Pejovic, Attorney at Law in cooperation with Karanovic & Partners.

The refugee crisis and related organizational adjustments are the major challenges faced by Poland, according to DWF Country Managing Partner Michal Pawlowski."Times are extremely challenging and turbulent," Pawlowski begins. "The COVID-19-related situation was finally becoming normalized, after different strains, restrictions, and vaccination-related public discourse. However, since late February, we are facing an even more extreme situation, that is, the Russian invasion in Ukraine."

Slovakia’s biggest challenges, in light of the ongoing war in the neighboring country, are dealing with sanctions and seeking alternative sources of supplies for its automotive industry, and implementing renewable energy projects, according to Eversheds Sutherland Managing Partner Bernhard Hager.

Recent cyber-attacks, the emergence of AI services, and a new Ministry of e-Government are among the widely discussed issues in Bulgaria, according to PPG Lawyers Managing Partner Irena Georgieva.

The Hungarian economy is performing well, despite all the turmoil Europe finds itself in currently, according to Kinstellar Budapest Managing Partner Kristof Ferenczi.

As Ukraine’s neighboring country, the war has added extra complexity to Slovakia’s existing economic challenges, according to Dentons Partner Patricia Gossanyiova.

War-related concerns have put the new government’s plans and a number of business transactions on hold, according to Schoenherr Local Partner Ilko Stoyanov.

The current primary focus of the Czech government is to help Ukrainian refugees and deal with the various issues surrounding sanctions against Russia, according to Kinstellar Partner Jan Juroska.

The Lithuanian government seems to be jumping from one fire to another between war-related crises, high inflation rate and fuel prices, and a lack of commodities, according to Magnusson Managing Partner Ligita Ramanauskaite.