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The 4th Middle East CFO survey

Resilient optimism in the face of uncertainty


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Buoyed by a sharp run up in oil prices during the first quarter of 2011 and the announcement of a series of large government expenditure programs, CFO optimism has reached a high since the first CFO Survey was conducted in the third quarter of 2009. This is despite the cautionary news flow which has included the Japanese earthquake and resulting nuclear crisis and the waves of social upheaval and conflict unfolding across the Middle East region.

In this fourth survey, which was conducted in April 2011 and gathered 117 respondents, results indicate:

  • CFO optimism has reached its highest point in 18 months in the face of uncertainty regarding the external environment.
  • Risk appetite remains averse but has steadily improved.
  • The market outlook indicates inflation on the horizon.
  • Social unrest and military conflict are viewed as high impact risks.
  • Credit remains costly but availability continues to improve.
  • CFOs face a tsunami of global debt maturities over the coming three to five years and need to determine their financial strategy now to ensure future success
  • CFOs are strategically focused on improving cash flow, organic growth and reducing costs.

Learn more about how GCC companies are being impacted by fraud by downloading the survey report below.