Most CFOs in Romania expect 2.6 pct growth of GDP this year, says Deloitte survey

Most of the Romanian CFOs surveyed by professional services firm Deloitte expect their revenues to increase in the following year, while almost half of them expect the local economy to grow by 2.6 percent of GDP in 2017, below the estimates of the government and of international financial institutions.

“With the highest economic growth in Europe in 2016, Romania experienced a period of stability and prosperity that has reached a peak last year. However, we are experiencing a testing environment with multiple risk factors that may slow down the Romanian economy,” said Ahmed Hassan, partner Deloitte Romania and CFO program leader, according to a statement.

They survey results also show that almost half of the interviewed Romanian CFOs expect a lower level of unemployment, while the greatest proportion predict their companies workforces will grow.

On the exit of the United Kingdom from the European Union, known as Brexit, over half of the inquired CFOs have a negative feeling following this move, while 39 percent think there will be a positive impact.

The eighth edition of the report presents the opinions of almost 600 CFOs based in twelve Central European countries.

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The European Commission, the executive arm of the European Union, forecasts an economic growth rate of 4.4 percent of GDP this year, while the public budget is based on a growth estimate of 5.2 percent. Economists suggested the growth rate pursued by the government could be too optimistic.