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Survey: Seven out of ten managers consider 2022 with distrust

Seven out of ten managers consider 2022 with distrust,due to the generated issues by the Covid pandemics, increase of prices, acceleration of the financial blockage and feezing of investments, according to the Barometre Sierra Quadrant regarding the state of the Romanian business, which shows the business people are more reluctant as regards the surpassing of the crisis in economy.

This shows that  71% of the interviewees (managers, business people and employees with important positions in the companies) have reasons to be pessimistic as regards the economic evolution in 2022, with reluctance and distruct the possibility of a new business development.

Only 13% are optimistic and think that the economy will follow a positive trend, while 16%avoided saying anything, considering that there are still many unknown factors as regards the economic perspectives.

If in the previous barometre, made in spring, the main challenge was the pandemics and its effects ( restrictions, drop in consumption, etc.) mentioned by 58% of the interviewees, in the new survey, made in December, the increase of inflation was first, remarked by 82% of the interviewees ( against 43% of the previous barometre).

In the top of the worries of 2022 there is pandemics and its effects - restrictions, drop in consumption, etc.- mentioned by 69%, accentuation of the financial blockage(37%), increase of the euro exchange rate (28%), financing costs - price increase and limitation of access to loans (18%) and the crisis of the workforce (16%).

After  2021 with imbalanced economic evolution (with sectors on the plus and others on the minus) the managers see a continuation of this phenomenon in the next year as well.

According to the results of the barometre, the focus of investors will be in 2022, the stimulation of consumption, the main engine of economy, 58% of the interviewees think that this will be the asset of 2022, after 2021 when the focus of the business environment  aimed, mainly at restructuring the business.

What is interesting is the fact that only 34% of the interviewees hope in a resumption of investments in the new year, the large majority waiting to see the way the macro-economic and sanitary framework develops.

Beyond the dynamics of the covid pandemics, restrictions, lack of perspecitve in the sanitary area - with direct effect in the consumption behaviour of the Romanians, inflation increased the structural issues in the economy and determined an increase of the financial blockage.

The business people are more and more distrustful as regards the overcoming of the crisis in economy, shows the study.If the barometre in the spring, 71% of the business people interviewed considered that surpassing the crisis, at the level of the whole economy, will come during the second part of next year, now most consider there will be a delay in this phenomenon for a least a semester.

57% estimate, thus, a solid coming back of the economy in semester 1 2023, 34% hope for a positive evolution starting with semester 2 2022 and 9% avoided an answer.
Inflation and pandemics are seen by investors as main vectors which change the economic direction in a way or another.

Asked which could be the assets of the economy to come out of the crisis, 37% of the inteviewees spoke about the coming back of the consumption as the inflation is under control, 28% rely on the effects of drawing PNRR funds, 16% mentioned the costs relatively low with the workforce and the rest gave other reasons.

According to the analysts from Sierra Quadrant, the macro-economic framework is more unpredictable as never so that many companies consider as a challenge to have well-designed business plan for 2022.

47% of the managers see a positive impact of PNRR and 29% are relatively reluctant.

Asked which they consider will be the absorption degree of the funds from PNRR, 52% of the investors estimate that Romania will be able to draw between 40 - 60% of the money, 24% estimate it under this level and only 13% believe in an absorption of over 60%.The rest avoided to say anything.

 The barometre Sierra Quadrant regarding the state of the economy, edition 8th was made by the consultancy company Frames and Sierra Quadrant between 8th - 14th December 2021, through online questionnaire, by phone and email, on a representative sample of 320 companies from different domains of activity, from commerce, to financial services, agriculture, energy, confections, IT, etc.
1239 people answered the questions in the barometre.


The profile of the interviewees was representative for entrepreneurs, company managers, middle and top management, with high education studies, 53% men and 47% women,  average 48 of age.

 Sierra Quadrant is specialised in management works and complex liquidation with a high degree of difficuly, characterised by  big and diversified patrimony, through the multitude of  legal issues which must be solved, as the same time with the procedure of insolvency.