PwC: 72% of CEOs expect company growth in 2014

A total of 72% of CEOs participating in the most recent Hungarian CEO Survey undertaken by PricewaterhouseCoopers (PwC) said they are optimistic that their companies will grow over the next year. PwC Hungary Tax and Legal Services director Tamás Lőcsei went on to state yesterday that the survey had shown 85% of CEOs surveyed stating they were optimistic that their companies would grow over the next three years. PwC surveyed a total of 141 CEOs from companies operating in seven sectors of the economy in cooperation with the Confederation of Hungarian Employers and Industrialists (MGyOSz) and the National Association of Worker Councils (MoSz) as part of the most recent Hungarian CEO Survey. A total of 34% of CEOs surveyed cited expanding markets as a factor contributing to improved competitiveness, while 28% mentioned structural transformation and 26% client-centered business practices. Among the factors contributing to deteriorating competitiveness, the CEOs identified taxation, narrowing markets, loss of markets and unpredictability. A total of 61% of CEOs said their companies paid more taxes in 2013 than in 2012, while 60% said they expect their companies to pay more taxes in 2014 than in 2013. A total of 45% of CEOs said they expected to hire employees over the next year, while 41% said that they expected to neither increase nor decrease their workforce during that period.