Greek CFOs among most pessimistic of Europeans

A survey of chief financial officers in 18 European countries by consultants Deloitte has found widespread pessimism over short-term business prospects, with Spanish and Greek CFO topping the list, as 66% and 53%, respectively, said they do not see any immediate prospects of improvement.

This confirms the prevailing mood since the start of the Russian invasion of Ukraine last February.

The most pessimistic CFOs are found in the consumer goods and automobile sectors, with high inflation, geopolitical uncertainties and supply chain issued their biggest concerns.

There are exceptions to the pessimism, notably in the tourist sector, where CFOs consider that risks have actually fallen.

In Greece, the number of pessimistic CFOs has risen by 31 percentage points in just three months; furthermore, 76% consider the economic and financial climate risky and 66% of them mention transportation and supply issues.

But, despite their concerns, 64% expect their company’s revenue to increase in the next 12 months and hirings to outpace layoffs and voluntary departures.