Hence, the proportion of those expecting an economic decline dropped from 62% to 47%.
“These projections are confirmed by the European Commission estimates showing Romania will register 3.1% economic growth this year, from 2.2% in 2023. While there’s an improvement of expectations about the macroeconomic situation, local company leaders are more downbeat about the businesses they run. This can be accounted for by the novelties brought about by the fiscal-budgetary policies of the last quarter of 2023, many of which have a negative impact over companies, as well as over inflation and the overall investment climates,” explains Dinu Bumbacea, Country Managing Partner.
As regards their own business, 30% of company general managers of Romania expect a decline of their business, and 37% project growth, from 52% in 2023.
Globally, twice as many executives expect economic growth in 2024 compared with 2023, but at the same time there are more general managers believing their business will no longer be viable in a decade.
Globally and in Romania as well, inflation, macroeconomic volatility and geopolitical conflicts are still the main concerns of general managers.
Global confidence in economic growth is fragile as mega tendencies, generated by technologies and climate changes impact businesses. Almost half of executive managers say they do not believe their current business will be viable in a decade should the current direction persist, up from 39% in 2023.
The same trend is manifest in Romania, with the percentage of general managers downbeat about the viability of the business they run in ten years rising from 37% this year, from 27% in 2023.
However, the report shows that executives are more likely to plan for an increase, rather that a decrease of headcount in the next 12 months, with 39% of them stating they expect to boost their number of employees by 5% or more.
CEO Survey 2024 explores the opinions of over 4,700 managers worldwide, including Romania.
(English version by Catalina Apostoiu)