Romanian executives show a feeling of increased trust in the stabilization of the economy over the next six months, shows the latest Deloitte Business Sentiment Index survey for Central Europe. About 55 percent of the Romanian executives expect the economy’s prospects in the country to stay the same in the next 6 months, compared to 48 percent reported in June 2011. Moreover, 7 percent of the executives in Romania expect a significant improvement in the economy in the next 6 months, up from 0 percent reported in the survey conducted in June this year.

“The decision of Finnish-based Nokia to close down its Romanian plant is the most recent evidence that Romania is steadily losing its low-cost advantage in favor of less developed countries in South America, Africa or Asia. The move, annulling one of the most important foreign investments in Romania over the past several years (Nokia was the second largest exporter in Romania in 2010), was warning enough for the country’s government,” says George Mucibabici, Chairman Deloitte Romania.

However, the executives in Romania expressed their growing confidence in the economy and consumption, 59 percent expecting improved sales figures on the next 12 months. Over 70 percent of the executives think that headcount at their firms will remain the same over the next year, compared to 58 percent in June this year, while 3 percent expect to increase their workforce size significantly.

Read the entire survey here (PDF version).

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Photoxpress)