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Positive expectationsin a testing timeCentral Europe CFO Survey 20178th edition
Positive expectations in a testing time Central Europe CFO Survey 20172
Positive expectations in a testing time Central Europe CFO Survey 2017ContentsIntroduction05Key findings06Methodology08CFO Confidence Index11Economic outlook13Business environment outlook25Company growth outlook43CFO Role57Contacts6303
Brochure / report title goes here Section title goes here As last year, CFOs are clearly moreconfident about the future of theirown organisations than the widerbusiness environment in which theyoperate. This time, however, they aresignificantly more positive about theircountries’ economic prospects.04
Positive expectations in a testing time Central Europe CFO Survey 2017IntroductionCFOs across Central Europe are lookingahead to the next year with increasedconfidence, bolstered by 2016’saccelerating growth rates and fallingunemployment in most countries acrossthe region.This predominating trend sets the contextfor the findings of this eighth edition ofthe Deloitte Central Europe CFO surveyreport, building on the perceived stabilityof the economic environment that we havereported for the last two years.Gavin FlookCE CFO Program LeaderDeloitte Central EuropeThis year’s edition includes the second CFOConfidence Index, which again indicatesthe overall positivity of our respondents’outlook for the year ahead. This is coveredin detail in the first chapter of this report,and shows a significant 29-point rise ineconomic confidence over last year. Whilethis optimism is not fully reflected in theirexpectations for the business environment,most CFOs nonetheless anticipate a goodyear ahead for their own companies.Chapter 2 covers the economic outlook forthe region, and once again reflects suchoptimistic attitudes with CFOs collectivelyanticipating positive growth rates forall countries covered by the report. In anew question this year, we asked CFOsabout their opinions on Brexit. Whilethe response was mixed – with opinionssplit between positive and negativeexpectations – there was some sharedground in expectations of restrictedworkforce mobility and decreased exportopportunities.In Chapter 3, we investigate the outlookfor the business environment in whichour CFOs operate. This is widely seen asuncertain, leading many respondents toresist any urge to take more risk on to theirbalance sheets. The greatest proportionof respondents feel that attracting suitablyqualified employees and downward pricingpressures will be among the most pressingchallenges they face.Despite such concerns, CFOs are highlyoptimistic in their expectations for theirown businesses during 2017. Chapter4 describes their confidence in theircompanies’ ability to operate successfullyin a testing business environment. Partof this confidence appears to be basedon their continuing risk-aversion and thestrict cost controls they plan to implement,complementing the rising revenues thatmany anticipate during the year ahead.In the last chapter of the report, we lookmore closely at CFO responsibilities andour participating CFOs’ own attitudesto them. Which do they see as mostimportant? To what extent is the CFO rolestill purely finance-oriented? How muchemphasis do they place on system controland supervision? And how do their viewsdiffer between sectors and according totheir company revenue levels or proportionof foreign investment?As last year, CFOs are clearly moreconfident about the future of their ownorganisations than the wider businessenvironment in which they operate. Thistime, however, they are significantly morepositive about their countries’ economicprospects. It will be very interesting to seehow their expectations are reflected bythe events across our region of the next 12months.05
Positive expectations in a testing time Central Europe CFO Survey 2017Key findingsEconomic outlookCFOs are very optim
Central Europe CFO Survey 2017 8th edition. otve epetaton n a tetn te Central Europe CFO Survey 2017 2. Introduction05 Key findings 06 Methodology 08 CFO Confidence Index 11 Economic outlook 13 Business environment outlook 25 Company growth outlook 43 CFO Role 57 Contacts 63
