The Basel-based institute said it expected growth of Switzerland’s gross domestic product of 2.5% in 2022, as the economy coped well with a series of challenges.
However, the BAK experts have downgraded the growth outlook for next year to 0.9% from 1.4% in June, according to a survey published on Tuesday.
They warn that the expected energy shortage in Europe and a tightening of the monetary policy by the central banks would have a negative impact on Switzerland’s economy.
BAK slightly raised its inflation forecast to 2.6% for 2022, up 0.1%. Experts have reiterated that they expect the rate to drop to around 1% next year.
Switzerland to introduce flight passenger database
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Switzerland plans to introduce a flight passenger database to collect and process personal data in a bid to combat terrorism and serious crime.
Government plans to invest over CHF16bn in Swiss rail network
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The federal government intends to invest CHF16.4 billion ($18.1 billion) in railway infrastructure between 2025 and 2028, CHF2 billion more than for the current period.
Swiss to vote on pension reform and biodiversity in September
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Swiss citizens will vote on occupational pension schemes and a biodiversity initiative on September 22, the Federal Council announced on Wednesday.
Ukraine peace talks: 50 countries have confirmed participation
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To date, 50 countries out 160 invited delegations have confirmed they will attend the Ukraine peace conference, held in central Switzerland in mid-June, according to Swiss public radio, RTS.
Federer-backed On boosts forecast after sneaker demand rises
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Swiss footwear company On Holding AG posted strong first-quarter revenue, boosted by demand for its running shoes and new line of training apparel.
Michael Schumacher’s watches fetch CHF4 million at Swiss auction
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Watches belonging to Formula 1 great Michael Schumacher sold for around CHF4 million ($4.41 million) at auction house Christie's in Geneva on Tuesday.
Macron will attend Swiss summit on Ukraine, says Zelensky
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French President Emmanuel Macron will attend the peace conference on Ukraine at the Swiss Bürgenstock resort next month, according to Volodymyr Zelensky.
Swiss lower economic growth forecasts due to war and inflation
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Switzerland has downgraded its economic growth forecast for 2022 to 2.6% due to the war in Ukraine and uncertainties in China.
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The price of Swiss household goods rose 3.4% in June compared to the same month last year, led by the surging cost of fuel and heating oil.
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