Survey of Financial Directors Shows Optimism But Lack of Skilled Staff

By , 31 Jan 2018, 17:32 PM Business
Survey of Financial Directors Shows Optimism But Lack of Skilled Staff Flickr - tec_estromberg CC by 2.0

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Also calls to lower income tax to raise wages. 

STA, 31 January 2018- Financial directors are optimistic about 2018, expecting even faster economic growth and further decline in unemployment, shows a survey conducted by auditing firm Deloitte Slovenija. However, financial directors see potential problems in a lack of suitable staff and have called for cutting tax on wages.

Financial directors see technological advancement, FDI and tax cuts as key factors of growth, and expect major investment in R&D in the coming 12 months.

Nevertheless, 80% expect revenue and profits to increase, Deloitte Slovenija head Barbara Žibret Kralj said as she unveiled the results of the survey on Wednesday.

At the same time, they expect costs, including the pay bill, to go up, but the share of those who plan to cut jobs stands at below 20% for the first time in the nine years the survey has been conducted.

While pointing out that it is increasingly hard to find suitable workforce, especially highly educated and skilled workers, Slovenian financial directors expect the unemployment rate to continue decreasing.

This compares to Czech and Polish financial directors who believe unemployment has reached the natural level and expect they will have to import workers.

The survey, conducted among 584 financial directors in Central Europe, shows more than 60% expect interest rates to increase this year, but only 39% assess this will affect their business.

Banking loans remain the favourite source of financing, which directors said is logical given the favourable conditions.

Meanwhile, directors are not that optimistic when it comes to taking risks; 83% believe now is not the time to be taking major risks.

Slovenian financial directors present at the unveiling of the survey, which included 50 of them, moreover see demands for higher pay as a major challenge.

They called on the government to cut tax on wages, because, according to Deloitte's managing partner for Adriatic Region Yuri Sidorovich, it is not fair for businesses to have to take care of everything.

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