The PwC CFO Survey Series
The current economic crisis due to the COVID-19 pandemic is rippling throughout businesses across the globe. To gauge its impact on Belgian companies, we’ve launched the PwC CFO Survey Series, consisting of monthly surveys on the effects of the crisis on finance, operations, workforce, supply chains and much more.
Survey 1: Financial Resilience
The first edition of the PwC CFO Survey Series covers financial resilience. We asked 42 CFOs of large corporates in Belgium across a variety of sectors to weigh in on the effects of the crisis on their organisations, their coping strategies and their plans and predictions for a post-COVID-19 world.
Belgian CFOs expect negative impact on revenues and the economy
Most survey respondents (79%) expect Belgian economic growth to decline, with 43% predicting it will decline greatly. Of the CFOs we surveyed, 40% estimate the impact of the COVID-19 outbreak on their overall 2020 financial performance to be high.
They also predict a decrease in their company revenues of less than 10% in the coming six months, as indicated by 43% of respondents, which is lower than the National Bank of Belgium’s recent forecasting models of a GDP contraction of 16% for the second quarter of 2020.
Source: PwC (2020)