Deloitte CFO Survey Highlights Key Challenges for 2023
Deloitte conducted an extensive survey of CFOs across 15 Central European countries. This survey is unique in how specific it is to this region. Over 620 CFOs across private and public companies across industries participated in this survey. If your company happens to operate in these regions or is considering expanding there, this report can be very insightful.
Whenever 620 CFOs are interviewed across industries, you can always draw insight from these results even if your operation does not touch these participating countries.
The 15 countries included in this survey are:
- Albania
- Bulgaria
- Bosnia and Herzegovina
- Croatia
- Czech Republic
- Estonia
- Hungary
- Kosovo
- Latvia
- Lithuania
- Poland
- Romania
- Serbia
- Slovakia
- Slovenia
Key results identified in this survey include:
- 70% of surveyed CFOs expect inflation to increase
- Average level of GDP growth expected for 2023 is .33%
- 11.5 inflation expectations
- Most CFOs surveyed are very pessimistic about GDP growth
- Unemployment is expected to increase
- 61% of CFOs feel the level of financial and economic uncertainty is high
- 93% of CFOs expect workforce costs to increase
- Main sources of concerns for CFOs includes reduced domestic demand, geopolitical risks and shortage of skilled talent
If your finance team relies on aging budgeting and reporting systems or disconnected spreadsheets, they are ill-prepared to tackle the many challenges this Deloitte report addresses. Consider deploying a modern FP&A software like FinLogic.io to give your finance teams the edge they deserve to get the job done.