• Companies are already adjusting their investment budgets and slowing down the outsourcing of services, which indicates a more cautious approach in a still-challenging economic and geopolitical context.

• Business leaders in Romania are encouraged to participate in the CONFIDEX Edition 11 survey. The responses will help formulate an index that reflects the confidence of the business environment in the national economy for H2 2024.

• The previous edition of the CONFIDEX study, conducted in H1 2024, highlighted the highest value of the CONFIDEX index measured in the last four years, reaching 52.5.

CONFIDEX, the longitudinal study that measures the level of confidence of entrepreneurs and managers in the evolution of the Romanian economy, launches a new edition – data collection for the 11th edition of the study starts now. Entrepreneurs and top executives in Romania are invited to contribute to the assessment of confidence in the Romanian economy by completing the CONFIDEX Edition 11 questionnaire by November 1st.

"In an economic context characterized by fluctuations, the Romanian business environment needs a tool that provides both quantitative and qualitative data regarding confidence in the economy's performance. It is essential for managers and entrepreneurs to have access to accurate and updated data to make informed strategic decisions. In today's economic landscape, this 11th edition is expected to provide a thorough analysis of business leaders’ perceptions regarding the challenges and expectations at the close of 2024 and the start of 2025," stated Andrei Cionca, Co-founder of ROCA Investments.

The previous edition of the CONFIDEX study, conducted in H1 2024, reported the highest value of the CONFIDEX index measured in the last four years, which was 52.5. This increase reflects a backdrop of declining inflation, rising GDP, and increasing optimism within both the domestic and international business communities regarding economic trends. The index's value witnessed an improvement from the previous year’s peak of 50.2 reported in the first half.

Managers’ Expectations vs. Economic Reality

The latest data published by the National Institute of Statistics on Romania's Gross Domestic Product (GDP) shows a modest real growth of just 1.4% compared to H1 2023, amid the unsatisfactory performance of the agriculture, industry, and construction sectors. This aligns with the cautious optimism recorded in the 10th edition of CONFIDEX, where only 38% of respondents anticipated a GDP increase.

Given this context, along with potential new fiscal adjustments and a 9.5% increase in the gross minimum wage, the relationship between actual economic data and the future projections of managers and entrepreneurs is vital for establishing a sound basis for business decisions.

"Downward revisions of economic growth clearly indicate that some sectors, such as agriculture and construction, are facing difficulties. We are also beginning to see budget reductions in the services sector, although it has always been a hallmark of CONFIDEX. Companies are already adjusting their investment budgets and slowing the pace of outsourcing services. However, we still have a great opportunity coming from private investments and PNRR, which can become a lifeline and a soft landing for the economy if we channel all our efforts and expertise in this direction. I believe firmly in the ability and resilience of entrepreneurs, and I am convinced that if we can take it to the next level, without remaining solely defensive, we will overcome these challenges successfully," added Andrei Cionca, Co-founder of ROCA Investments.

The CONFIDEX study, now in its 11th edition, will reveal the current perception of businesspeople regarding the economic context, potential new fiscal measures, as well as the evolution of the labor market, in light of the increase in the gross minimum wage. The results of the new study will be published in November.

CONFIDEX is the only longitudinal study in Romania that measures the confidence of Romanian managers in the economy and deciphers the challenges faced by the local business environment. Launched in 2020 by Impetum Group, the study has built a community of over 3,000 entrepreneurs and C-Level executives across its 10 editions, contributing to the establishment of extremely important benchmarks for the Romanian economy. Now in its 11th edition, the study has become a benchmark tool for business decision-making, providing a clear picture of the perceptions of businesspeople in Romania and creating an overview of confidence in the economy. By extrapolating trends, CONFIDEX offers interested parties a tool that helps them better understand the times we live in and make sound, well-argued decisions that positively impact the business environment and society as a whole.

CONFIDEX 11th Edition Survey can be filled here: https://studiulconfidex.ro/s/confidex-editia-11?ref=confidx9497

*This is a press release.