In the face of the COVID-19 crisis and decarbonisation agenda, EU member states and countries across the CEE region have realised that they need to take action. With new challenges have come new opportunities to make structural changes in our economies and address key societal matters. Hear examples of how PwC Bulgaria is working with stakeholders in the public and private sectors to achieve sustained outcomes, through projects supporting structural reforms of core institutions.
With a public sector consulting practice that spans the CEE region, PwC Central and Eastern Europe is proud of its role in delivering structural reform support projects to help improve the operations of public institutions and improve the lives of citizens.
A great illustration is the work we are doing to deliver socio-economic transformation projects in Bulgaria. Using the combined capabilities of the PwC network, we are helping to identify opportunities for structural reforms and supporting their design and implementation. On each of our projects, we focus on facilitating an open dialogue among stakeholders on the sustainable development of the economy and country.
Supporting structural reforms in society
With the onset of the COVID-19 pandemic and decarbonisation agenda, it became evident that EU member states and countries across CEE needed a rehaul of their institutional capabilities in the face of a structural change.
The 2021 Progress towards the Sustainable Development Goals report states that already before the pandemic, the world was not on track to meet the SDGs and targets by 2030. The COVID-19 crisis further stalled the efforts. According to UN estimates, $5-7 trillion will need to be mobilized each year globally to achieve the SDGs*. Looking more closely at Central and Eastern Europe, including the Western Balkans and CIS, our PwC findings show the demand to be as high as $3 trillion over the next few years**.
The key area to improve? Collaboration. Financing and funding for the sustainable transition, as well as making sure that the transition is just, are challenges too great for any single country or sector to face alone.
The Directorate-General for Structural Reform Support (DG Reform) helps EU countries to design and implement reforms by supporting member states identify job creation potential and other levers for sustainable growth. PwC Central and Eastern Europe is proud to have taken a lead role in supporting this programme, helping countries in the European Union to implement reforms and build trust between public and private sector stakeholders.
Through our work in supporting DG Reform and other major structural reform support frameworks funded by organisations like the World Bank and the EBRD, we are helping the beneficiary countries to build trustful public institutions – transforming their operations and bringing transparency to their processes, implementing performance monitoring measures and accountabilities.
Each project addresses the deep structures of our societies in a systematic way. These are not one-off projects or implementations, but an integrated framework of projects that get to the heart of institutions in society. The end result is fact based decision making and policy making.
Each project brings us into contact with a wide range of stakeholders and engages our community of solvers across the PwC network. As an example, through our projects on Structural Reforms Support across the EU, we have worked with over 10,000 stakeholders and touched the lives of hundreds of millions of people. The engagements are structured to have a tangible and sustained impact on citizens and business, and to stimulate an open dialogue between various stakeholders on important economic and societal topics.
The experience of PwC Bulgaria showcases how local teams are working to make a difference.
In a project focused on the green transition in Bulgaria, the team has engaged with more than 100 different stakeholders – including business, trade unions, academia and NGOs – to put in place ESG reforms for core institutions to help mitigate the environmental impact of key industries and improve the social and economic climate of the country.
Another example is the work the team did to create a national strategy to support small and medium-sized enterprises (SMEs) in Bulgaria, helping to foster more entrepreneurship, digital upskilling and build a more sustainable agenda.
In our efforts to help achieve sustained structural reforms, our teams have supported an integrated framework of projects across the region that focus on changes and improvements to institutions at the heart of society.
For me, it's a really great pleasure from a professional and personal perspective to be in the driving seat. And to feel like a key contributor for building trust between one of the most important stakeholders here in our country through our projects, which is a key enabling factor for achieving sustainable outcomes in development of Bulgaria. I think this is of extreme importance. This is a key decision for me to stay for such a long time in PwC. I'm more than 13 years in PwC. And, as a Bulgarian citizen, I really feel that it contributes to the developments of our society.