CFOs in Romania, more pessimistic than CE peers

Financial directors in Romania are more pessimistic than their peers in Central Europe (CE) when it comes to the challenges, as 66% of them perceive high or very high fiscal uncertainty, compared to a regional average of 35%, according to Deloitte CFO Survey Central Europe.

Moreover, 90% of the CFOs in Romania (a share that is twice as high as the CE average) caution against taking additional financial business risks during this period. Nonetheless, somehow they expect to overcome the fiscal uncertainty as 75% of the Romanian CFOs expect higher incomes in 2019, slightly more optimistic than their counterparts in the region (66%).

"In terms of main factors that may negatively impact their businesses, Romanian CFOs are concerned by the brain-drain phenomenon and its impact on skilled workforce availability, the increased costs of running their business, and unpredictable fiscal and business laws. Still, they remain generally optimistic about macroeconomic and business environment perspectives," said Farrukh Khan, Partner Audit and Related Services, Deloitte Romania, the coordinator of the CFO Survey program in Romania.

According to the study, 85% of Romanian CFOs expect price increases in 2019 and are concerned about their impact on operational costs. Throughout the year, they expect increases in material, labor and service costs.

(Photo source: Pixabay.com)