The survey shows that nearly a quarter of interviewed CFOs expect an economic growth of up to 3.5%, in accordance with the World Bank’s forecasts of 3.9%, and more than half (52%) start to see the new markets as a source of income, compared to 33% in 2015. Also, 57% of respondents expect an increase in the number of employees.
Ahmed Hassan, partner Deloitte Romania and leader of the CFO program, said that unlike three or four years ago when companies were facing budget cuts due to the economic crisis, currently, they are considering expansion again, either by expanding into new markets more than they did in the past, or by increasing teams.
Although Romania CFOs are more optimistic about the future, compared to their peers in Central Europe, most of them are cautious about risks, as 78% believe it is not the right time to take greater risks and 76% are considering rather internal financing resources than bank loans.
Hassan also said that recent changes in Romania, such as the new Tax Code, are also saluted by CFOs, as 69% of them think these changes will have a positive impact on their activity. He added that on the short term, however, the level of optimism and the appetite for business will be impacted by the economic and political stability.
Mircea Varga, CFO at Tiriac Holdings, in turn, said Romania can enjoy one of the most attractive European economies, depending on its capacity to handle the current favourable period.
The Deloitte CFO Survey in Romania concludes, among others, that nearly 70% of CFOs think the current fiscal amendments will have a positive impact, 40% think companies’ own services centers are advantageous, 45% believe the lack of necessary skills is the main reason why they cannot find skilled workforce, 33% expect the CAPEX index to focus on IT hardware and software and on new technologies, while 30% think investments in hardware and software will be one of this year’s three main challenges.