The Bucharest office of the Schoenherr law firm is estimating a 10 percent annual rise in business in 2009, Sebastian Gutiu, Managing Partner of the local company, told Business Standard.
“We expect to exceed our initial forecast for 2008 turnover by some 15 percent,” added Gutiu. The company initially estimated a 35 percent increase in turnover and a 25-30 percent rise in profit in 2008 compared to levels registered in 2007.
“Growth in 2009 is closely related to the economic evolution. We will witness slowdowns in certain sectors, and growth, partially spectacular, in others. On the whole, activity will maintain a slightly upward trend,” said the company official.
The legal market is affected by the international crisis especially in the areas of real estate, equity markets and banking&finance. “As far as we are concerned, our forecasts in Central Europe are optimistic. We have just raised the number of employees in three new offices in the region by 25 percent,” Gutiu added.
