Bulgaria's economic landscape appears to be evolving rapidly, driven by a proactive government and a series of long-overdue legislative reforms, according to Kinstellar Partner Nina Tsifudina. From changes in the available company forms to alignment with EU regulations and the anticipation of eurozone integration – all these keep the country’s markets buzzing, with movements in the banking and telecommunication sectors leading the charge.

In Austria, ESG issues are at the forefront, while the Viennese Building Code is being updated to promote environmentally friendly measures, according to Weber & Co Partner Daniela Witt-Doerring.

The upcoming parliamentary elections at the end of September are the talk of the town in Slovakia, with a slew of interesting legislative changes – including those covering whistleblowing, corporate restructurings, and construction – coming in before the buzzer, according to Wolf Theiss Managing Partner Katarina Matulnikova.

Lithuania hopes for the best and prepares for the worst by further tightening its banking and fintech regulations, following the latest decisions and position papers issued by the supervisory authority. Despite talks of a recession, the banking and finance market remains active, according to Cobalt Partner Akvile Bosaite.

Despite the ongoing challenges generated by the Russian invasion, the markets in Ukraine have seen surprising levels of activity, according to Rob Shantz, a Corporate and Compliance Partner with Redcliffe Partners. In the midst of it all, Shantz remains optimistic about the future, envisioning a busy legal market as Ukraine aligns more closely with the EU, leading to significant opportunities in the country's rebuilding efforts once the war is over.

Bulgaria's outlook is improving, with its elected government working hard to catch up on crucial EU legal updates, while the country continues to attract investments in banking, energy, healthcare, and technology, according to Penkov Markov & Partners Associated Partner Boris Lazarov.

Hungary has adopted new laws covering various areas, prioritizing electronic registration processes and the construction industry, while also making significant advancements in the energy field, according to Nagy es Trocsanyi Partner Orsolya Kovacs.

These days, Austrian lawyers are primarily focused on the topics of the prevailing economic climate and its future trajectory, the implications of ESG trends, and the impact of artificial intelligence on the legal profession, according to Dorda Managing Partner Martin Brodey.

Despite the challenges, Ukraine’s internal economy remains strong – and there are significant opportunities for those who can navigate the complexities of the current situation – with lawyers busy with litigation and arbitration, sanctions and antitrust, as well as restructuring and privatization matters, according to Arzinger Founding and Managing Partner Timur Bondaryev.

The healthcare industry is undergoing reform and the renewable energy sector is shifting to foreign-investment-friendly auction-based strategies, while the new Civil Code and large investment projects – including healthcare digitalization and infrastructure development – are on the books in Kosovo, according to RPHS Law Partner Visar Ramaj.

Despite a recent M&A slowdown, updates to the capital markets and land rights laws, renewable energy auctions, and business migration heavily impact Serbia's legal and business landscape, according to Doklestic Repic & Gajin Partner Slobodan Doklestic.

The business situation in Slovenia remains solid, although several challenges worsening prospects for the future are present – from the worker shortage to increasing prices and indications of a potential slowdown – while the country works on its green transition and considers reforming its tax, pension, and health systems and employment legislation, according to Kirm Perpar Partner Jan Gorjup.

With a new president and parliament – and a new Bar Association President and Management Body – the elections' results still hold the front page for lawyers in Montenegro, while the country plays to its strengths with energy, tourism, and real estate all thriving, according to Law Office Vujacic Partner Jelena Vujisic.

Croatia’s energy and real estate sectors are well-positioned for growth, while frequently changing legislation and an ongoing strike by judicial clerks complicate the lives of lawyers, according to Divjak, Topic, Bahtijarevic & Krka Senior Partner Mario Krka.

Following the recent administrative elections, Albania is enjoying a period of calm, political stability, and a strengthening currency, with a draft on medical cannabis production and the first issuance of corporate bonds through a public offer at the top of the agenda, according to Tonucci & Partners Partner Enklid Milaj.

Struggling with high inflation, tough questions are being asked of the Austrian M&A market lately, and the government responded by planning a new, more flexible corporate form with reduced capital requirements, according to Graf Patsch Taucher Partner Bernd Taucher.

With a new cryptocurrency regulation in the legislative pipeline, Ukraine's anti-aggression measures are also ramping up, presenting even more uncertainties and challenges for all business sectors in the country and keeping lawyers on their toes, according to Sytnyk & Partners Counsel Artem Sokurov.

Bulgaria is experiencing a wide plethora of legislative changes, from employment law and artificial intelligence all the way to the commercial sector, IT, and ESG, according to Deloitte Legal Country Legal Leader and Senior Managing Associate Zvezdelina Filova.