PwC Cyprus Findings - 28 April 2020
PwC is tracking sentiment and priorities about the COVID-19 outbreak among CFOs.
During this bi-weekly survey, Cyprus participated with 45 CFOs who were surveyed for the round taking place from 20 to 22 of April.
In the graphs you can see the percentages out of the total number of 45 CFO responses.
871 CFOs across 24 territories: Armenia, Azerbaijan, Brazil, Cyprus, Denmark, France, Germany, Ireland, Japan, Kazakhstan, Malta, Mexico, Middle East1), Netherlands, Philippines, Portugal, Singapore, Slovakia, Sweden, Switzerland, Thailand, Turkey, US, Vietnam participated in this round of the survey.
Nearly three-quarters (78%) of respondents are greatly concerned about the effects of COVID-19 on their operations; only 9% view it as an isolated challenge not currently having a major impact on their business.
69% of CFOs in Cyprus expect a decrease in their company revenues and/or profits as a result of COVID-19. Only 4% of CFOs expect an increase in revenue as a result of COVID-19
Cyprus CFOs are mainly concerned about potential recession (73%) followed by financial impact (58%) and decrease in consumer confidence (58%).
62% of respondents believe their company could return to ‘business as usual’ within three months if the crisis were to end today.