Expectations among companies in the Romanian-German business community regarding the state of the Romanian economy have significantly deteriorated compared to last year, with the share of pessimistic respondents increasing by about 20 percentage points (2024: 38%, 2025: 57%), according to the survey conducted by AHK Romania this spring.
Nevertheless, 38% of respondents say their outlook on their own business remains unchanged, and 37% expect an improvement (2024: 40%). Most companies (62%) currently rate their situation as “satisfactory,” while the number of optimists continues to decline (28%), following a downward trend over the past three years. By comparison, last year 59% described their business situation as “satisfactory” and 33% as “good.”
Investment Decline and Staff Reduction: Upward Trend
In this economic context, companies’ willingness to invest is also decreasing. While in 2024, 46% of companies intended to invest, in 2025 the share dropped to 38%. Additionally, 30% of companies expect to reduce their investments in 2025, compared to 20% last year.
Due to falling demand and cost pressures, many companies also plan to reduce staff and increase productivity. This year, 34% of companies said they would cut jobs, up from 18% in 2024. Meanwhile, 41% plan to maintain their current workforce, the same as last year.
Falling Market Demand and Regulatory Conditions Seen as Major Risks
Regarding business risks, companies identified decreasing market demand, economic and political framework conditions, and labor costs as the main threats to their growth. While the shortage of skilled workers was seen as a major risk last year, it has now moved to the background. Still, for 48% of companies, the lack of skilled labor remains a concern.
To address this, most companies cited ongoing employee training and digitalization, along with closer cooperation with educational institutions. The skilled labor shortage has led to higher wage costs for 20% of respondents, reduced operational activity for 15%, and scaled-back planned investments for 14%.
Romania’s EU Membership Remains Its Key Advantage
Regarding investment site factors, Romania scores highly due to its EU membership, availability of local suppliers, infrastructure, and R&D conditions. Companies, however, criticized limited access to state aid and EU funding, the tax level and system, with the greatest dissatisfaction stemming from the unpredictability of economic policy.
Other concerns included political and social stability, corruption control, public administration, transparency in public procurement, legal stability, and skilled labor availability.
The presidential elections on May 18 were considered very important in clarifying the country’s future political direction. Continuing on a pro-European path is crucial for businesses, as it ensures predictability and stability.
“However, political and economic challenges remain pressing. The business community expects a comprehensive reform agenda to fully unlock Romania’s growth potential across many economic sectors and to reduce existing imbalances. Enhancing competitiveness and the economy must be the guiding principles of the new government’s economic policy,” commented Sebastian Metz, General Manager of AHK Romania, on the survey results in the context of the current political situation.
About the Survey
The survey was conducted by AHK Romania in collaboration with 15 other German bilateral chambers of commerce in Central and Eastern Europe between March 1–31, 2025. It included responses from 82 AHK Romania member companies and other German-capital firms operating in Romania.
By sector, participation was as follows: 43% services, 34% industry, 10% trade, 10% construction, and 3% energy and water supply.