Federal economists expect economic growth in Switzerland to slow in 2023, before picking up again in 2024, according to the State Secretariat for Economic Affairs (SECO).
The SECO expert group has slightly revised down its September forecast. It now expects a growth rate of 1% next year, after 2% in 2022. “This would point to sluggish growth for the Swiss economy, but not a severe recession,” says a SECO press releaseExternal link on Tuesday. The experts forecast growth of 1.6% in 2024.
This projection assumes, among other things, that there will be no energy supply shortages this winter or next. However, says the press release, “the energy situation in Europe is likely to remain tense with gas and electricity prices running high. Furthermore, high international inflation and the tightening of monetary policy are likely to curb demand.”
The experts expect inflation in Switzerland of 2.9% in 2022, followed by 2.2% in 2023.
SECO says economic indicators have weakened somewhat recently, and stresses that “the course of the economy will depend crucially on global economic activity and also on energy supplies”.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
TradeXBank to resume full operations after Sberbank Switzerland taken off sanctions list
This content was published on
TradeXBank, the former Swiss branch of Russia’s Sberbank, will be able to resume its dollar-denominated activities from the second half of this year.
Geneva decides not to remove controversial memorials
This content was published on
The city of Geneva has presented an action plan regarding a series of controversial local statues and monuments of historical figures linked to racism, colonialism or slavery.
University of Lausanne calls for end to pro-Palestine sit-in
This content was published on
The pro-Palestinian occupation continues at the University of Lausanne (UNIL). On Monday evening, a group of students refused to agree to the deadline set by the rectorate.
Ukraine peace conference should include Russia, says Chinese ambassador
This content was published on
China supports a peace conference on the Ukraine war that would see equal participation of all parties, says Chinese Ambassador to Russia Zhang Hanhui.
This content was published on
A majority of Swiss citizens have open attitudes towards various infertility treatments, including even egg donation, which is currently prohibited.
Reports of Swiss cyber fraud almost doubled in six months
This content was published on
The head of the new Federal Office for Cybersecurity (FOC), Florian Schütz, has presented a new strategy after just over four months in office.
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
Economiesuisse expects slow growth and low inflation
This content was published on
Inflation in Switzerland in 2023 is expected to remain above the central banks target range, according to economiesuisse.
This content was published on
The Organisation for Economic Development and Cooperation expects Swiss GDP to grow by 2.1% in 2022, not 2.5% as forecasted.
This content was published on
Switzerland’s economic output grew 0.3% between April and the end of June but the economy faces uncertainties for the rest of the year.
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.