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SURVEY: 76% of Romanian managers consider they will be affected much and very much by Ukraine war
More than three quarters of managers consider they will be affected much or very much by the Ukraine war and only 8% declare its impact is low. About 22% of companies consider they are strongly dependent on exchanges with one of the two countries, according to results of Confidex S1 2022, published by Impetum Group.
Managers estimate that the situation of their company is above average of the activity sector and even that of Romanian and European economy. About 11% of managers consider the national economy has improved of late. But 27% consider the situation of their own companies has improved and 19% that the activity sector has improved.
About two thirds of managers consider that global and European economies will get worse in the year to come. 71% consider the same thing about the national economy.
War seriously affects Romanian economy, especially by making more difficult access to raw materials, to a series of resources which are obtained more easily from the Eastern area (Ukraine, Russia). The dependence level to that area is high (22%) and 6% of companies declare totally dependent on it .
The future can be marked by the raw materials (86%) and energy crisis (78%), which will increase production costs and will lead toward a high inflation (93%). 40% of managers consider that GDP will drop, therefore we are going toward recession.
Expectations toward authorities have in view investments in infrastructure and supporting economy, as well as a diplomatically cautious approach of reality at the border, clearly preserving close collaboration its strategic allies. (EU,NATO, USA).
The CONFIDEX index grows to the highest value measured, 47.8, a fact which indicates that the business environment has in view a positive dynamic, a slight increase, which should consolidate companies affected by the pandemic crisis.
The study is covering a sample of 403 companies from top 6 categories of economic sectors contributing to GDP: agriculture, electric industry and energy, constructions, trade, transport, distribution, storage, services.
The study was answered by CEOs and C level managers, and 75% of companies have business figures of over 1 million euros and 31% have over 5 million euros business figure.
The survey was made over March 28 – April 29, 2022.