The Swiss business federation, economiesuisse, expects the Swiss economy to grow by 2.1 per cent in 2011, slowing to 1.7 per cent the following year.
This content was published on
1 minute
swissinfo.ch and agencies
The federation says that the economy is nevertheless holding its own in a difficult world economic context.
Economiesuisse said in its latest outlook on Thursday that Switzerland’s recovery from the financial crisis was flattening.
Exports are developing positively as a result of demand from new markets and industrialised countries like Germany, but the strong franc will be a problem in the long-term, it said. The federation thus called for the longer-term deindustrialisation of Switzerland.
On the positive side, the domestic market is robust and inflation should stay low for this and the next year.
Economiesuisse’s prognoses match those of the Swiss government and the Swiss National Bank and BAK Basel Economics, which predicted a 2.2 per cent Gross Domestic Product increase on Wednesday. But they are well below the Kof Swiss Economic Institute’s forecast of 2.8 per cent for 2011.
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 businesses against EU membership
This content was published on
It stressed its support for strengthening bilateral relations, while adding that signing up to the 25-member club would complicate the forging of national economic and social policy. A barrage of complications in the economic and political arenas would negate any efficiency gains to be had through membership, the federation said at a news conference on…
This content was published on
Renewed fears that Greece might default on its debts has sparked a fresh wave of euro weakening while the dollar continues to trade way below parity against the franc. A single euro cost just under SFr1.22 on May 27 and the dollar just SFr0.85. Swiss exporters are used to the safe haven franc gaining in…
This content was published on
The euro fell 17 per cent against the Swiss franc last year and looks set to remain depressed as European Union member states struggle to make ends meet. Swiss exporters have seen profits eroded as the cost of their goods spirals in Europe. Although Switzerland is playing no direct role in bailing out Greece and…
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.