Over 80% of major companies listed on the Bucharest StockExchange that have published 2010 budgets expect their turnover topick up after most of them saw significant decline amid thefinancial crisis last year. As estimates show, the rebound will besignificant, even though 2007 levels are still difficult to match.Energy, iron and steel, construction, chemical or pharmaceuticalcompanies are banking on two-digit turnover increases this year,after reporting declines in a row last year. While nobody expectsto entirely offset last year's drop, budgets are generally upbeatand are pointing to increases not only in terms of turnover, butalso in terms of production volumes and sales, with the reboundgenerated not only by price hikes, but also by a demand recovery."Last year was marked by a deep confidence crisis and this made2009 much weaker than 2008 in terms of business. The 2009 declinealso had an artificial component generated by the fact that panicdelayed investments. This year, the tone is more relaxed than lastyear, people are talking about when the decline is to be offset andthis is why there's also a positive psychological component to befound in budgets," explains Mihai Caruntu, head of BCR's capitalmarket research department.
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