Growing revenues within existing markets and improving cash flow are the main priorities for Romanian Chief Financial Offers (CFOs) over the next 12 months, as they report a marginally more optimistic outlook in 2012 for their own companies than they anticipated in the summer of 2011, according to the second edition of the Deloitte Central Europe CFO Survey. With uncertainty lingering above global prospects, Romanian companies face the same challenges of maximizing profits amid intensifying competition in their core markets. They are not immune to economic realities and need to focus on cost reduction, operational efficiency and re-allocation of capital, so as to consolidate their core competencies and – if the case – exit the inefficient non-core ones. Overall, the Deloitte Central Europe CFO Survey questioned 265 senior finance managers from many of Romania’s leading companies, alongside their equivalents from Croatia, the Czech Republic, Hungary, Poland and Slovakia. Given recent changes in the business environment, most respondents (70 pc) agree that business restructuring is a priority over the next 12 months. There is also a widespread view that levels of M&A activity will remain largely unchanged or increase slightly over the next year.