The director of the Swiss Economic Institute (KOF) at Federal Institute ETH Zurich, said Switzerland had been been quite resilient in the current economic environment.
“Resilience is based on stable political institutions, a healthy society and a thriving economy,” he told the SonntagsBlick newspaper.
He said Switzerland was able to combine all these factors.
“We produce mainly goods in the luxury segment, high-quality niche products. The quality of service is right. In addition, we are reliable partners,” he is quoted as saying.
However, Sturm said high inflation will continue to preoccupy the Swiss for a while.
“Until spring, I expect inflation rates of up to 3.5% due to rising electricity prices. After that, the situation should calm down.”
Much depends on the energy supply, he said. The increase in key interest rates by the central banks has a delayed effect on inflation, he added.
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The business association, Swissmem, reports that there are increasing signs that the bottom of the downturn will be reached this year.
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Swiss recession unlikely, says leading economist
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Swiss growth will slow this winter, but a recession is unlikely, says Jan-Egbert Sturm, director of the Swiss Economic Institute.
Businesses push for immediate lifting of Covid restrictions
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The Swiss government is facing renewed calls for the immediate suspension of its anti-Covid measures, notably the work-from-home and quarantine rules.
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