Financial managers more willing to restructure than invest

Financial directors of Romanian companies are focusing on business growth and lowering expenses, which means they are more willing to restructure their business than invest, according to a Deloitte poll.
“Results of this edition of the study confirm the financial environment is still unstable. This means that in spite of the improvement in macroeconomic indicators, most financial directors still have reservations. We are going through a difficult time and study results confirm this. However, financial directors have also noticed an improvement since the last two editions of the study. (…) I believe financial directors in Romania will have the difficult mission of balancing the pressure related to business profitability, on the one hand, and making investments in business growth through innovation, finding new markets, technological improvement, and staff, on the other,” Ahmed Hassan, Country Managing Partner Deloitte Romania, stated. According to the Deloitte study, European macroeconomic indicators have generated a higher degree of optimism lately. Approximately 93 percent of respondents expect a growth in the Romanian economy in 2014. “(…) On the long term, the reticence toward making new investments could seriously affect the GDP growth, unless the Government can come up with precise measures to support investments,” Deloitte shows. Around 60 percent of the interviewed financial directors maintain their opinion that loans are difficult to attain, and the general view is that loan interest rates will continue to drop in Romania in the following year.

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