Almost two-thirds (62%) of Romanian executives expect local economic growth to slow this year. The answer reflects the most pessimistic assessment in the last 12 years, being the reverse perception from 2021 and 2022, until the start of the war in Ukraine. Despite the fact that expectations regarding the macroeconomic situation have worsened, the leaders of our country are more optimistic when they talk about the development of the businesses they lead. A synthesis of the opinions of this year’s respondents will be found in the PwC Romania CEO Survey report, which will be released at the conference on March 29.

“The questions that form the basis of our report begin with five megatrends that dominate the world and that we face: climate change, technological disruption, demographic change, an increasingly fragmented world and social instability. While none of these trends are new, their scale, impact, and interdependence are growing, with some differences across economic sectors and geographic regions. We set out to find out how leaders think they can find solutions to today’s tensions and adapt to the future. We are seeing increased volatility, worsening macroeconomic conditions leading to rising costs, and talent identification and retention becoming increasingly difficult. However, the pressure of a very uncertain environment does not discourage Romanian managers, who continue to bet on the better development of the organizations they lead than the economy in general. That is why we wanted to find out from Romanian executives what measures they are taking to face the challenges and risks that threaten the global and local economy, and how they remain optimistic about the future of the company they lead and the development of the local economy in the coming years,” says Dinu Bumbecha, managing partner of PwC in Romania.

They answered these questions in a series of interviews, the full version of which can be found in the CEO Survey report, which will be published on March 29: Omer Tetic, CEO of Banca Transilvania, Andrea Pipernea, CEO of NN Pensii, Katalin Radu, CEO of Bristol. Myers Squibb, Michaela Bitu, CEO of ING Bank, Julien Munch, CEO of Carrefour, Raffel Walker, CEO of E.ON Romania, Sergio Manea, CEO of BCR, Francois Bloch, CEO of BRD Groupe Société Générale and Kelin Kostinash, Deputy CEO of Profi Rom Food. Some statements from the interviews of managers who will participate in the presentation of the report:

Omer Tetik, CEO of Banca Transilvania:It is clear that we are going through a difficult period for business, one of the components of which is the increase in the cost of financing. But we are in a much better strategic position than during previous crises. We are a reliable and very well capitalized bank with a diversified portfolio and high commitment – ​​we are the bank of choice when it comes to your first bank account or your first financing. Of course, the low level of problem loans and reserve coverage above the European average also help and encourage us. All this shows that we are ready to finance the country, economy and people, even if there are no less difficult and unstable times ahead.” You can read the full answers from the interview here.

Andrey Pipernea, CEO of NN:We have a sustainable and dynamic approach in all spheres of activity. A balanced and sustainable long-term investment strategy and a reliable risk management system based on a holistic assessment when choosing investments and a risk appetite adapted to the context help us protect clients’ money in the long term. (…) The stability and adaptability of the business environment in the context of the last few years is encouraging, and, moreover, I believe that we have enough reasons to look to the future with some optimism. At the macro level, the prospects for economic growth, even if still quite modest at the moment, the potential for a recovery in inflation and the availability of investments from EU funds are just some of them.” You can read the full answers from the interview here.

Cătălin Radu, CEO of BMS: The last 30 years have shown us that Romania has embarked on a difficult path to a functioning democracy and market economy. There were obstacles and difficult moments caused by local shortcomings or external circumstances. But I noticed one constant – constant improvement and evolution. There were periods of acceleration or stagnation, but the Romanian economy and society kept the direction. I see a lot of youth in politics and an increasingly strong awareness of the responsibility of the political factor in the country’s economy. I also think that more and more politicians are realizing how important integrity is and how unforgiving politics can be and how firm justice can be when deviations from the rule of law occur. All of these factors make me optimistic about Romania’s trajectory and development, regardless of the challenges.” You can read the full answers from the interview here.

The survey of CEOs by PwC has been studying the perceptions of Romanian managers about the development of the economy, prospects, challenges and opportunities for the development of the organizations they lead for more than ten years.

Article supported by PwC Romania