CONFIDEX 13 at start: Businesses test their confidence in the economy in a year of global instability

A new edition of the CONFIDEX study has begun, the only longitudinal study in Romania that has been measuring business people’s confidence in the national economy for over five years.

Entrepreneurs and C-level executives are invited to contribute to the creation of the CONFIDEX Index for H2 2025, but especially to provide a perspective for what lies ahead in 2026, by completing it by December 12.

The questionnaire can be completed here: https://studiulconfidex.ro/s/confidex-editia-13?ref=landing-page

The 13th edition of Confidex is carried out in partnership with RBL (Romanian Business Leaders) and supported by the investment companies ROCA, ROCA X and Agista, together with CITR, the leader of the insolvency and restructuring market in Romania, the Impetum Foundation and Impetum Investments.

Confidex 12th Edition: A fragile balance between optimism and concern

The previous edition of CONFIDEX, conducted in H1 2025, indicated that, despite an unstable global climate and generalized caution, Romanian companies maintain their strategic direction, showing a significant degree of resilience – in the context of a CONFIDEX index located in H1 2025 at 51.3, very close to the value in H2 2024 (52). During this time, 64% of the responding managers declared themselves pessimistic about the evolution of the global economy. In contrast to this macroeconomic perception, 42% of the leaders were optimistic about their own companies, with 26% even anticipating an improvement in their own company’s performance.

Overall, the CONFIDEX results from the first semester show an increasingly adaptable Romanian business environment, oriented towards developing solid mechanisms for reaction and adjustment in the face of volatility.

“The results of previous editions of Confidex have shown us once again how important it is to have a tool that rigorously and periodically measures perceptions of the business environment and provides a correct picture of the Romanian economy. In a period when the global context often creates distortions in expectations, Confidex manages to capture the reality inside companies and their real level of confidence. Even though the global and national economy have lost momentum, Romanian companies have continued to maintain their direction, relying on investments, diversification and their ability to adapt. Through the 13th edition, we will understand how leaders are preparing for 2026 and where we can identify potential in the new economic cycle. The voice of Romanian business people is essential to building a solid and future-oriented economic ecosystem”, says Andrei Cionca, CEO of Impetum Group and initiator of the CONFIDEX study.

“A deep understanding of economic realities cannot exist without systematic data analysis. At Romanian Business Leaders, we take on the responsibility of generating rigorous information that serves a dual purpose: on the one hand, to provide entrepreneurs with the necessary foundation for informed decisions, and on the other hand, to form the basis of our public policy proposals. We firmly believe that only evidence-based knowledge allows us to design projects with real economic and social impact, to raise the level of information in the entrepreneurial ecosystem and to effectively contribute to the development of a stronger and more resilient business environment.” Alexandru Dincovici, General Director of Romanian Business Leaders

How will managers’ confidence evolve in an economy under pressure?

The economic context in which the new edition of CONFIDEX is taking place is one marked by slowing economic growth and persistent macroeconomic pressures.

According to European estimates, the Romanian economy has followed a slowing trend, with a forecast growth of only 0.7% in 2025, followed by a slight recovery to 1.1% in 2026, while inflation remained one of the highest in the European Union, standing at around 9–10% in the autumn of this year. Added to these were a high budget deficit and a tense geopolitical climate in the region, elements that influenced operational costs, investment appetite and the risk perception of the business environment.

In such a reality, measuring the level of confidence and expectations of managers becomes essential for understanding the economic directions in the coming period.