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OeKB survey :The business environment in Romania got worse, but it is the best in the region

Trust in the business environment of Romania dropped over the last survey made in October by Reuters and the Austrian bank OeKB, but this index places Romania on the first position in the region. Romania went up to the first position within a ranking referring to the trust in the business environment among 11 countries in Central and Eastern Europe, the index of trust dropping to 40 points in October, of 53 poinyd in July.

The survey shows that trust in the business environment in Central and Eastern Europe diminished in the autumn, under the conditions where the effects of economic crisis manifest especially over the banking and real estate sectors. The Thomson Reuters &OeKB index for trust in the business environment of Central and Eastern Europe dropped to 29 points in October, compared to a level of 44 points reached during the previous edition of the survey of July. The survey was made on a sample of 400 international companies, which manage 1,400 companies, in the context of speeding up the world financial crisis which started to affect the countries in Central and Eastern Europe after the bankruptcy of the American bank Lehman Brothers.

"The results show that the trust of direct investors in central and eastern Europe dropped drastically" according to analysts from the Austrian bank Oesterreichische Kontrollbank (OeKB) who prepared the survey. Any result over zero indicated, however, that there is trust. Despite the accentuated drop, the result of the survey suggests that representatives of some companies have a good opinion about the present business environment and about the expectations regarding business. In spite of all this, the results for economic growth dropped under zero, for the first time, from 31 points in the previous quarter to -1 at present. « The largest part of direct investment expected a slowing down of the economic growth over the next 12 months",according to OeKB. The weakest results came from the banking sector, under the conditions where 40% of the questioned bankers say that the GDP in the region will drop. October was a very difficult period for Central and Eastern Europe. The investors renounced the assets in the region, the bonds markets froze, and the crisis of credits hit the companies and the consumers who had already faced a slowing down of economic growth, a diminishing the orders and the losses of working places.

Following the model of Ireland, Ukraine, Hungary, Serbia and Latvia used the IMF for financial help, to get out of the economic crisis and all the countries in the region revised the estimates for economic growth. The survey showed, for October, that trust of the representatives of the banking sector and of the real estate sector was very affected and the results were weak for all sectors. An explosive development of the real estate sector in the Baltic Countries, Romania and Bulgaria ended abruptly, after the worsening of creditation conditions, and the future seems to be as pessimistic as before, according to the results of the OeKB survey. The banks in the region were affected, under the conditions where the parent-companies faced the effects of international financial crisis and drop refinancing for the East-European subsidies. The survey was published for the first time in January 2007 and was made three times last year : January, July and September. At present, it has become quarterly.

Sursa: http://www.nineoclock.ro

Tags: europe eastern economic crisis results companies central october environment business romania region trust survey

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