The second survey, which reflects the expectations that had been formed during the second quarter of the year, shows that there is cautious optimism about the Greek economy. It should also be noted that the survey recorded a significant change in business expectations for the better.
This significant improvement is due to the auspicious predictions for unemployment, and the reduction of pessimism for exports. The expectations of the research, concerning the next twelve months and do not signal necessarily immediate improvement to the financial environment.
This research recorded that the optimism concerning the economic conditions continues to face the improving production rates. The average balance of “positive” and “negative” responses decreased from 34.6 to 33.1. This is due to the sharp deterioration of estimates of the effectiveness for labor and public infrastructure. On the other hand, the improvement of expectations for funding was positive.
Regarding the obstacles to business activities, the consultants pay the highest attention to the frequent changes in the tax system. This factor, which was also important in the first quarter of the year, makes a score of 4.46 with a maximum of 5.00. In the top five of those obstacles, with a score higher than 4.0, also included the inefficient management of public administration, the high taxes and the tight funds, loan or not.
The Hellenic Association of Management Consulting Firms (SESMA) created a new index, the Greek Management Consultants Confidence Index (GMCCI), which reflects the expectations of leaders and business executives, Consulting Managers for the state of the economy.
The Hellenic Association of Management Consulting Firms (SESMA) considers that the assessment of the economic situation, but also medium-term trend of the economy is very important for the development of a strategy for the enterprises and the public sector. The estimates and business expectations for the course of the economy reflect the current economic reality and affect the investment propensity.
The Hellenic Association of Management Consulting Firms (SESMA) is a nonprofit, scientific association founded in 1991 by 23 leading Consultancies in Greece.
Today the members of SESMA are 53, including the large Greek firms and the international firms which operate in Greece. SESMA’s members cover over 85% of the turnover of the consulting sector in Greece and employ more than 2.500 professionals of high academic education and professional experience.