BUSINESS

CFOs express fears about course of economy

TAGS: Economy

The chief financial officers of companies operating in Greece are quite pessimistic about the course of the Greek economy and market according to a European survey of CFOs conducted by Deloitte in the first quarter of the year.

The survey on a sample of 1,580 CFOs in 19 European states showed a wave of optimism across the continent, but in Greece their insecurity about the future of the economy remains clear. The average response points to pessimism about the financial prospects of companies in Greece.

Asked how they would rate the level of economic uncertainty enterprises were facing, some 82 percent of respondents from the Greek market said “exceptionally high,” while the same percentage said they didn’t think it was a good time for taking business risks.

Despite those worries, 61 percent of CFOs surveyed in Greece said they expected an increase in their companies’ revenues in the next 12 months, while 34 percent were anticipating an increase in hirings, against 18 percent who expected a reduction.

Among the strategic priorities of CFOs in Greece for the coming year are cost control, business growth and the introduction of new products and services in the market, followed by reducing operation costs and expanding to new markets.

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