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Most regional businesses fear second wave of COVID-19

PricewaterhouseCooper survey involving more than 40 Chief Financial Officers in Jamaica and across the Caribbean, has found that 64 per cent of businesses fear a second wave of coronavirus infections.

The PwC COVID-19 Survey revealed that the majority of CFOs interviewed expect COVID-19 to decrease revenue or profit by 10 per cent or more, with 11 per cent indicating that while they expect a decrease, the range is unknown.

The second biggest concern is the impact of a global economic downturn as a result of the COVID-19 pandemic.

Most Caribbean CFOs stated that offering new or enhanced products or services was most important to rebuilding or enhancing their revenue streams.

Fifty per cent of respondents said they are also considering deferring or cancelling planned investments as a result of COVID-19 and 32 per cent said in the next month they expect productivity loss due to lack of remote work capabilities while 34 per cent reported they expect a change in staffing due to low or slow demand.

                                                                           



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