Croatian CFO SurveyNo time to be taking risk? |
In the light of the economic and financial developments, Deloitte's CFO Survey, conducted in six countries in Central Europe, shows a reduced level of optimism among CFOs in Croatia compared to June 2011. Chief financial officers in Croatia consider financial uncertainty as their major concern. Improving liquidity is one of the CFOs key tasks although 12 percent of the respondents do not regard it as a priority.
"As estimated by the majority of independent analysts, Croatia will see further GDP decline in 2012, which will be the fourth consecutive year of no significant economic recovery. Almost 70 percent of CFOs in Croatia do not expect GDP to grow during 2012, whereas only 9 percent anticipate a moderate growth." Juraj Moravek, Partner at Deloitte Croatia.
Key trends and findings:
- The main challenge facing CFOs in their day-to-day roles will be to cope with the financial uncertainties that arise from the country’s volatile economic position
- A key aspect is set to be improving company liquidity during the year, although a relatively high proportion (12%) sees it as a low priority
- Croatian CFOs will be looking to the government to achieve several key tasks during 2012, including the prevention of any further decline in the country’s credit rating, maintaining a stable currency, controlling inflation and ensuring fiscal stability
- CFOs are also focused on the support given to exporting goods and services, and on the need to adopt EU regulations prior to accession in 2013.
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Deloitte research: Croatian CFO Survey Croatian CFO Survey No time to be taking risk? English PDF; 16 pages, 1,46 MB February 2012 |
Press conference
Zagreb: February 28, 2012
Alen Ambrinac, Senior Audit Manager at Deloitte: „In assessing the level of external financial and economic uncertainty, CFOs in Croatia are more pessimistic than their peers in Central Europe. The survey has shown that as many as 39 percent of them assess the level of external financial and economic uncertainty as being high, with 39 percent of the surveyed CFOs describing it as being higher than usual." ... more > Resolving financial uncertainty remains the priority of CFOs in Croatia (press release)
