The crisis to sweep through Romania's economy

Uncertainty reigns in the local business environment due to the international financial crisis. While some of the major players say they are still waiting for positive signs from the market before finalizing their budgets for 2009, others, operating in very significant fields, are preparing for recession, making plans for 2009 and to maintain forecasted results.

Some companies are already announcing drops in sales, while others are only saying that the evolution or regression will depend strictly on the economy's development.

The energy sector, though theoretically little affected by the crisis, is the first to admit that 2009 will be a year marked by restructuring programs, when revenues will slide due to a drop in electricity and gas consumption, with companies in the fields considering layoffs.

The car industry is the second-largest field which is forecasting that 2009 will be a difficult year. Porsche, one of the leaders among local distributors, has already announced a 10 percent drop in sales. Dacia, the largest local car maker, has not yet made public forecasts for 2009, but has cut production and is sending people on forced leaves of absence, while revising 2008 sales estimates downward.

Business Standard