For the second consecutive year, “Greek CFO Survey” was conducted by Deloitte Greece to explore in depth the challenges, priorities and opportunities facing chief financial officers (CFOs) in Greece. The survey was conducted online in April 2026, with more than 100 CFOs taking part from a broad and representative sample of companies spanning different sizes and sectors.
Cautious optimism amid uncertainty
Optimism about companies’ economic prospects fell from 44% to 39%, while pessimistic assessments almost doubled (12% → 22%). A total of 64% of CFOs rate uncertainty from the external environment as high or very high, compared with 44% last year.
However, Greek CFOs are significantly more optimistic than the European average, with optimism standing at 39%, compared with just 20% among their European peers. This difference is also reflected in expectations for business performance: 69% of Greek CFOs expect revenue to increase over the next 12 months, compared with 59% of their European peers, while the corresponding figures for EBITDA are 63% and 35%.
Geopolitical uncertainty tops the agenda
Geopolitical risk is now the number one concern: 84% of CFOs rank it as a significant threat over the next 12 months, up from 68% in 2025. Supply chain disruptions more than doubled (19% → 44%), with energy crises (70%) and conflicts in the Middle East (55%) the main sources of concern. A total of 45% of companies are already seeing lower profitability and delayed investment.
The heightened concern is not just a matter of recognition — it is already translating into specific business decisions. Some 67% of companies have initiated risk-assessment and impact-assessment processes, while nearly one in four (24%) are diversifying their supply chains, reducing their reliance on specific procurement and sales markets.
Shift towards acquisitions and capital management
Appetite for mergers and acquisitions surged from 29% to 46% — the biggest change recorded in the survey. Meanwhile, cutting operating costs has risen up the list of priorities (43% → 49%), while working capital optimisation has emerged for the first time as a significant strategic goal, with a 62% likelihood of implementation. With borrowing costs remaining high, companies are turning to working capital optimisation and cost controls to finance themselves internally.
Finance functions at the heart of strategy
A total of 54% of CFOs say the finance function is “very actively” involved in strategic decision-making, up from 51% in 2025. However, the broadening of its role — through the integration of ESG and non-financial data — is putting pressure on existing processes: the share of finance functions that have expanded their remit while maintaining mature, well-documented processes fell from 50% to 45%.
Digital transformation: rapid progress, but not without obstacles
The use of artificial intelligence more than tripled in a year (10% → 32%), business intelligence tools rose from 53% to 68%, and financial planning tools (EPM) from 25% to 36%. In Greece, 78% of CFOs prioritise digital transformation — more than double the European average (36%). Nevertheless, satisfaction with the technology environment has fallen, with the share who are “mainly satisfied” down from 20% to 13%. Fragmented systems (49%) and reliance on spreadsheets remain widespread, with 73% of companies using them as their primary tool.
ESG: widely recognised, but low levels of readiness
A total of 72% of CFOs consider sustainability and ESG strategy important or very important for their company, while green finance has emerged as the leading source of funding (69%), followed by government support programmes at 59%. These are the two leading sources of funding, together accounting for the majority of responses.
However, 39% of CFOs report a low level of readiness to comply with the new European sustainability reporting standards (CSRD - Corporate Sustainability Reporting Directive). At the same time, 16% are entirely unaware of digital tagging requirements (digital labelling to enable the search and organisation of digital files), a gap that could become a competitive disadvantage for those who fail to act in time.
Konstantinos Motsakos, Partner, Finance Operate Leader at Deloitte Greece, said:
“This year’s findings paint a picture full of contradictions. The use of artificial intelligence in finance functions has tripled in a year, but the crucial question remains: do we really trust its results enough to make decisions? Eight in 10 CFOs make digital transformation a priority, even as spreadsheets remain the main tool for most companies. So the question is no longer whether we will transform or whether we use artificial intelligence, but how, through what processes and, above all, with what strategy. Uncertainty is no longer just geopolitical. It is economic and regulatory, and concerns governance models and the availability of talent. In this environment, it is not enough for the CFO to manage numbers alone. They must provide answers to precisely these questions”.