ECONOMY

CEOs look past 2011

The majority of top Greek company officials are downbeat about their firm?s prospects for the year but express optimism over the medium term, according to global survey results revealed on Tuesday.

The survey, put together by PricewaterhouseCoopers (PwC), showed that 72 percent of Greek chief executive officers and senior management officials expect negative sales growth in the next 12 months.

?This comes into contrast with CEOs from Western Europe and internationally, who are becoming more optimistic and confident,? PwC Hellas CEO Marios Psaltis said in a statement.

Going beyond 2011, 63 percent of top officials surveyed said they are cautiously optimistic about their company?s prospects over the next three years, the survey added.

Nine in 10 local CEOs also said that they have cut spending in the last year, with 76 percent expecting to go ahead with further cuts in the next year.