The Swiss economy is not expected to see any sustainable growth until 2021 at the earliest, according to government forecasters. The Swiss National Bank (SNB) agreed, keeping negative interest rates unchanged.
This content was published on
1 minute
swissinfo.ch/mga
Русский
ru
В 2020 году экономика Швейцарии останется на прежнем уровне
A government expert group concluded that economic growth would rise only 0.9% this year, 1.7% in 2020 and 1.2% in 2021. However, much of the expected growth next year will be generated by one-off sporting events, including the Summer Olympics in Tokyo.
In its quarterly forecast, the group predicted a slow-down in construction activity and “much weaker” export growth in 2020 than in the previous four years.
“The international environment remains unfavourable. In particular, the weak growth can be expected to continue in the eurozone as well as in Germany, the single most important trading partner,” read a statementExternal link.
Switzerland’s central bank decided on Thursday to retain its -0.75% interest rate policyExternal link. The SNB predicts Swiss economic growth to achieve 1% by the end of this year and between 1.5% and 2% in 2020 – again driven by major sporting events rather than sustainable improvements in trade and demand for Swiss goods.
Switzerland’s economy is currently being underpinned by a low unemployment rate (around 2.3% according to the government) and strong pharmaceutical and chemicals sectorsExternal link, which see strong demand even during economic downturns.
Protein in abdominal fat could help shape obesity treatment
This content was published on
The study analysed fat cells from different locations in the body, and found that those in the abdomen have unique properties.
North African asylum claims fall after rapid Swiss processing
This content was published on
The accelerated procedure, now out of its test phase, has resulted in a significant drop in applications from North African countries.
This content was published on
The artist's song "The Code" focuses on their journey as a nonbinary individual. It is one of the favourites to win this year's contest.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
This content was published on
Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
This content was published on
St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss government predicts moderate economic growth in 2019
This content was published on
The State Secretariat for Economic Affairs (SECO) is expecting the Swiss economy to grow moderately by +1.2% in 2019, it said on Thursday.
This content was published on
The Organisation for Economic Cooperation and Development (OECD) has revised its Swiss growth forecasts downwards for the next two years.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.