Most Central, Eastern European managers expect worse economic stituation
2/12/2008 16:08
Pessimism prevails for the future economic and financial situation in
Europe amongst many managers in Central and Eastern Europe, the Austrian news
agency APA reported yesterday.
A survey of high-level managers in the region
by Roland Berger Strategy Consultants found that 73 percent of those polled
believe the economic situation would worsen.
Fifty-four percent of the
managers surveyed in Croatia, the Czech Republic, Hungary, Slovakia and Serbia
expect further change for the worse, while 39 percent from enterprises in
Ukraine and Russia consider the situation unclear.
According to the study, 53
percent of the Austrian and 42 percent of the Russian and Ukrainian companies
are wrestling with financing problems.
Decreasing incoming orders are
registered by 42 percent of the Eastern European, 28 percent of the Central
European and 26 percent of the Austrian enterprises.
Almost all of the polled
companies are preparing for harder times. In Austria, cost reduction programs,
slashed budgets and hiring freezes are the top actions being taken. Similar
moves are being adopted by other Central Europe firms.
Meanwhile, Russian and
Ukrainian firms are also mulling hiring freezes and budget cuts.
Xinhua
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