Mariana Gheorghe, the CEO of Petrom, Romania's biggest company,says the scenario of economic stagnation in 2010 is not much betterthan last year's recession. The only thing that can make thedifference between a successful and a failed 2010 is thegovernment's ability to devise a long-term investment programme, sothat the sacrifices everybody is making now, through salary andpension cuts, should make sense. Petrom has taken steps to slashcosts, including layoffs and the sale of certain operations, buthas also invested in new business lines, such as energy, a segmentwhere results will become visible in 2011. Gheorghe says Romaniashould be seen as a business and its development should be thoughtout as a business plan. "Had we come up with a credible medium,short and long-term programme, had we had an economic rebound plan,drawn up with tangible targets, as a business plan is, with clearcalculations, with funding sources, we'd have had chances to shunthese measures," Gheorghe says.
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