A majority of Croatian managers polled in a restructuring study carried out by the Roland Berger consulting company do not expect recovery from the crisis before 2013. Findings of the study, which has covered 6,000 managers worldwide and executives from 50 Croatian small and medium-sized companies, was presented on Wednesday in Zagreb by Dejana Dojcinovic Drilo, a senior consultant at the Zagreb office of this consulting company.
According to the study, 62 per cent of the polled Croatian managers expect a GDP growth of between 0.5 per cent and 1.5 per cent in 2011. As many as 81 per cent of the respondents in Croatia project the economic growth to be between one and two per cent in 2012.
Furthermore, 41 per cent of the respondents in Croatia expect the full recovery of Croatia's economy after 2012, said Dojcinovic Drilo.
On the other hand, the crisis has enabled managers to increase the competitiveness of their companies with 73 per cent of the respondents in Croatia saying that programmes of restructuring and cost cutting have helped them enhance their competitiveness. A half of them believe that the crisis has prompted this change.
As for the liquidity crunch in Croatian companies, the situation has recently improved, but 29 per cent of Croatian companies are still in a critical condition when it comes to solvency, which is the poorest result among 43 countries covered by the study.
For instance, in the region of southeast Europe 12 per cent of all companies are faced with liquidity problems.
