Premium
Almost three quarters (73pct) of the CFOs in Romania estimate, for the next 12 months, a decrease in domestic demand, while more than two thirds (67pct) say they expect the revenues to decrease, according to the results of Deloitte's CFO Survey Romania between April and May 2020.
In these conditions, CFOs take into account, as a main strategy over the next year, cost reduction (58pct), followed, far behind, by cash flow provision (16pct) and organic growth (13pct). The data centralized in the expert study show that only 9pct of respondents still estimate an increase in investment in the next 12 months, compared to 39pct, at the end of 2019. Also, the proportion of those who anticipate a decrease in the number of employees is 44pct.
According to the source, the main concern of the chief financial officers for this year is related to the decrease in demand, with 73pct of participants estimating a decrease in domestic demand and 45pct of them a decrease in external demand. At the same time, the share of those who expect an income decrease is 67pct, while at the end of 2019, 78pct of them were estimating rising incomes.
Regarding the measures announced by Romania to support the local economy in the fight against the effects of the health crisis, 58pct of the CFOs surveyed consider them less effective than those adopted by other European countries.
