“Petrol prices are affordable in wealthy Switzerland,” he toldExternal link the Tages-Anzeiger newspaper on Wednesday.
The government set up a working group in April to study whether measures were needed to ease the burden of households.
But Maurer, from the right-wing Swiss People’s Party, said the state had “no money” to support consumers hit by higher prices.
“Such measures are not necessary with inflation at 2.5%,” he said.
The finance minister told the paper that he feared a looming economic slowdown.
“I think a recession is approaching. Its severity will depend on how long the war in Ukraine lasts and on energy prices,” he said.
Sanction pressure
Turning to the war in Ukraine, Maurer said Swiss banks should resist pressure to step up enforcement of sanctions on Russians being punished in the West for the invasion.
“If anything we should say slow down a bit and don’t implement the sanctions with a ‘Swiss finish’. Our banks probably sanction more harshly than anyone else,” he told the paper.
Maurer said Switzerland should use gas-fired power plants and extend the life of nuclear power plants to help meet its energy needs, adding that Switzerland would help to finance gas terminals that neighbour Germany was building.
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Inflation and interest rates: how Switzerland is different
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Geldcast update: do we need a recession to fight inflation?
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With inflation rising in many countries around the world, including Switzerland, the question arises whether central banks need to hit the monetary brake.
Inflation and interest rates: how Switzerland is different
This content was published on
It will be a while before inflation drops again, according to Nannette Hechler-Fayd’herbe, head of investments at Credit Suisse.
Swiss economy holds up despite Ukraine uncertainty
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Economists have confirmed their previous growth forecast for Switzerland of just under 3% for 2022, but this is only in the most favourable scenario.
National bank president to keep ‘very close eye’ on inflation
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Thomas Jordan says he takes the significant rise in inflation seriously and that one must “keep a very close eye on how it continues”.
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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.