Croatian CFO SurveyIncreased optimism? |
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Croatia |
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Welcome to the third edition of the Deloitte CFO survey for Croatia, which once again records CFO sentiment across a range of economic and business issues. It also sets our respondents’ views within the context of their peer groups from Bulgaria, the Czech Republic, Hungary, Poland, Romania, Slovakia and Slovenia.
It would be fair to describe the picture that an analysis of the survey’s findings as “mixed”. On the one hand, as Croatia struggles within one of the weakest economic recoveries of any nation included in this survey, CFO attitudes are clearly cautious and risk-averse – hardly surprising amid growing bad debts, escalating uncertainty and increasing expectations of a return to recession.
On the other hand, standing on the verge of EU accession, CFOs are clearly less pessimistic about the financial prospects for their own companies than they were in early 2012. Many are even anticipating cheaper borrowing that is more easily available than in the past – but in a climate where making new investments is seen as the lowest of all priorities, this improvement is largely theoretical.
"CFOs are still averse to new investments - a significant proportion of CFOs put new investments in the lower half of their priority lists" Juraj Moravek, Partner at Deloitte Croatia.
Key trends and findings:
During the survey several topics emerged that CFOs in Croatia identified as important for their short and medium-term operations:
- Preventing a decline in the Croatian credit rating
- Coping with financial uncertainties
- Continuing to adopt EU regulations with regard to accession in 2013
- Keeping the kuna stable and controlling the rate of inflation
- Ensuring fiscal stability
- Improving liquidity in the corporate sector
- Supporting the export of goods and services
- Tax reforms
Attachment
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Deloitte research: Croatian CFO Survey Croatian CFO Survey No time to be taking risk? English PDF; 28 pages, 2 MB November 2012 |
