The economic consequences of the COVID-19 pandemic most countries around the world are expected to have a negative growth rate this year. As we restart the economy, the impact of the pandemic will have far-reaching effects on the way we do business.
COVID-19 has made the global economy at a stand still. According to the International Monetary Fund (IMF), most economies are expected to record a negative GDP per growth in 2020. We at PwC would expect to return to normal growth again when the pandemic has passed. The availability of a COVID-19 vaccine will determine the recovery, but the economic consequences of COVID-19 will change the way we do business in the future.
For now, businesses will be re-evaluating their business models that served them in the past as it may not work in the post COVID-19 world. For example, manufacturing will have to adapt to a world fearful of global disruption from future pandemics and other threats.
Chief Operating Officer / Advisory Leader, PwC Sri Lanka
Tel: +94 11 771 9700 ext.5002
Director - Corporate Finance, Valuation Consulting, and Real Estate Advisory, PwC Sri Lanka
Tel: +94 77 787 2962