Less than half of Hungarian CEOs see companies growing in 2012
About 47% of Hungarian CEOs think their companies will grow in 2012, well under the 84% global average, a joint survey by consultancy PricewaterhouseCoopers (PwC) and Hungarian business association MGYOSZ shows.
The CEOs of about 70 big Hungarian companies said they had drawn up survival strategies that focused on cost cuts, said MGYOSZ chairman Péter Futó.
Companies' growth outlooks are hurt by the uncertain Hungarian economic environment, the unstable exchange rate of the forint and the general government deficit, which could prompt the government to raise taxes further, PwC partner Tamás Lőcsei said.
Asked about their outlook for the coming three years, about 78% of the CEOs said they expected growth.
The survey showed 34% of companies plan further layoffs in the coming twelve months and 22% plan to make new hires.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.