Deloitte: Companies relying on government to revive economy

Newsroom 21/06/2010 | 10:54

In the context of the prolonged global recession, local companies expect more support from the state, considering governmental stimulus to be the most important catalyst to help turn the economy around, according to the second Romanian CEO survey, released recently by Deloitte Romania.

“As predicted, the crisis in 2009 has swept through the business community, challenging companies to stand their ground, if they can. 2010 is the year when survivors get back in the race. But there are no winners yet, as the crisis deepens at macroeconomic levels and the pressure for governmental support and restructuring grows stronger,” said George Mucibabici, chairman of Deloitte Romania.

He added: “Romania’s recent decisions, to resort to harsh economic measures, can prove paramount in reviving the economy. By reducing social protection costs, the state can finally concentrate efforts and funds on the real economy.”

According to the survey, companies have already begun cleaning house, and restructuring will continue in the current year, with a goal to achieve growth, improve quality of service and increase brand awareness.

Deloitte’s survey was carried out between February 20 and April 30, and reflects contributions from more than 150 leading Romanian businesses in terms of revenues.