CFOs Pessimistic about Greek Economy

Saturday, May 20th, 2017
Last Update: 23:45

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

Based on a sample of 1,580 CFOs in 19 European countries, the study shows a a climate of optimism across Europe, but quite the opposite in Greece, where CFOs state that they feel insecure about the country’s economy.

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

Nevertheless, 61 percent of Greek CFOs 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.

For the coming year, Greek CFOs see 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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