CEOs in Romania are optimistic about the short-term prospects of the companies they run, with 43 percent of them being very confident in saying that their companies will achieve revenue growth in the next 12 months, according to the Global CEO Survey report for Romania conducted by PricewaterhouseCoopers (PwC). The results in Romania are above the average in the EU, where 40 percent of CEOs said they were confident their company revenues will grow next year.

On a medium and long term, growth prospects in Romania seem very likely to company directors, with 70 percent of them saying they are very confident in the potential of their companies to increase revenue over the next three years. This is significantly higher than the confidence shown by the directors of companies in more mature markets of the European Union - 47 percent.

In terms of geographical expansion, the responses show that the company directors are willing to develop operations in other countries, but are generally cautious in this regard. Traditional export markets for Romanian goods, such as Germany, are seen as offering the best prospects for growth.

Most CEOs in Romania (87 percent) said they had changed the strategy of the companies they lead as a result of new market conditions arising from global economic crisis. Among the factors behind the change, 62 percent believe that the dynamic economic sector they belong had the greatest impact in the decision to implement changes in strategy, while 27 percent indicate growth forecasts and uncertainty.

“What this year's results of the Global CEO Survey shows, is that local business leaders are aware that developments in the global economy plays an important role for the Romanian economy”, says Vasile Iuga, Country Managing Partner, PwC Romania.

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