Half of Romanian CEOs are very confident in the revenue growth of their company over the next 12 months, according to the results of PwC’s Global CEO Survey 2016, a press release informs.
This is 6 percent up on last year’s 44 percent and 15 percent higher than the global average (35 percent), making Romanian CEOs some of the most confident business leaders in the world, just behind those of India and Spain, but well above those from Western or Eastern Europe.
“The optimism of Romanian CEOs is fed by the economic growth of the past three years, as well as the estimates for Romania’s GDP growth in 2016, which stands at 4 percent. However, we should keep an eye on the gathering storm on the emerging markets and the global capital markets and make sure that a future global crisis does not take us by surprise, just like it did back in 2008. In order to put Romania’s economy into a safe harbour, we need to keep up the pace of structural reforms, cutting red tape, reforming the public sector and improving the country’s infrastructure, in order to maintain Romania as an attractive investment destination”, stated Ionuţ Simion, Country Managing Partner, PwC Romania.
On the medium term, 61 percent of Romanian CEOs declared themselves were very confident about their own company’s prospects for revenue growth over the next 3 years, up seven points on last year’s 54 percent, and above the global average of 49 percent.
This perception of higher opportunities for growth translates also into optimism regarding future employment, with 56 percent of local CEOs saying they intend to increase headcount in the next 12 month, while only 18 percent plan to layoff employees this year.
Globally, two-thirds of CEOs (66 percent) see more threats facing their businesses today than three years ago.
The results, in PwC’s Global CEO Survey – ‘Redefining business success in a changing world’ – underline a gloomy outlook for the global economy in the next twelve months. More than 1,400 CEOs were interviewed for the research, which is published at the opening of the World Economic Forum Annual Meeting in Davos, Switzerland.