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Several uncertainties to emerge as growth barrier in next 12 months, says PwC CEO Bob Moritz
January 21, 2020

Several uncertainties to emerge as growth barrier in next 12 months, says PwC CEO Bob Moritz

Several major issues will drive uncertainties in the next 12 months, which could adversely affect global economic growth, according to Bob Moritz, CEO of PricewaterhouseCoopers (PwC).

PwC, on Monday, released a survey that showed that as many as 53 percent of global CEOs expect the international economic growth to decline in the next 12 months — the worst finding since the financial crash of 2007-08.

“The reality is, over the next 12 months, we will see other issues pop up, we will see other elements of uncertainty come through. The US upcoming election is a great example of that right now," said Moritz in an interview with CNBC-TV18's Shereen Bhan.

Talking about India, Moritz said, “A lot of CEOs see a lot of upside, a lot of potential. The question is: is it going to be realizable in the short term?"

“What they are looking for is to see whether Prime Minister Modi and the ministries can make the changes necessary to make it inviting to bring more investment to the table and to be able to capture the opportunity," added Moritz.

According to Moritz, social unrest does affect the decision that determines investment in countries.

“Having a playbook is extremely important and probably more tuned to the last couple of weeks is how much is the social unrest; it has a big implication in terms where you want to do the business. We have seen that not only in India but also in China," said Moritz.