The document provides a comprehensive overview of the economic performance of SMEs in 2022 and 2023 and forecasts for 2024. The report highlights key challenges and opportunities for SMEs, which represent the backbone of the European economy.

According to the report, the real added value of SMEs decreased by 1.6% in 2023. A further decline of 1.0% is expected for 2024. Employment increased by 1.8% in 2023, while growth is expected to slow to 0.8% in 2024. In the period of the last five years, real added value increased by 9.5%, and employment by 5.9%.

The report concludes that in order to achieve sustainable growth and competitiveness of European SMEs, greater support is needed for policies that will put SMEs at the center of EU policy-making. SMEs are the key catalysts for change that Europe needs to achieve the goals set out in the framework of the OSA paradigm.

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