63% of Polish CFOs believe pandemic did not disturb financial liquidity

About 2/3 of financial directors in Poland (63% of them) believe that pandemic did not disturb financial liquidity in their companies, according to the study ‘CFO Survey 2020 – spring edition’.

As much as 58 percent of Polish CFOs believe that the impact of the SARS-CoV-2 epidemic on their companies is negative, and 6 percent – positive. The relatively high percentage of respondents who assess it as neutral (35 percent) is interesting. Importantly, almost two-thirds of CFOs (63 percent) believe that coronavirus did not disrupt financial liquidity, but 34 percent said it did. Over half of those surveyed said that coronavirus did not cause late payments by contractors or payment gridlocks. In turn, 39 percent of managers admitted that their companies struggle with such problems.

The key strategy for the next 12 months most often chosen by CFO from Poland is cost reduction - 50 percent of indications against 6 percent of indications in the autumn of last year

The greatest risk threatening the development or financial stability of the company in the next 12 months indicated by the CFO is insolvency and restrictions related to payments in the economy and a decline in domestic demand or recession.

Polish financial directors also estimate that changes in the level of unemployment caused by the coronavirus will be significant.

(ISBnews)