The Swiss economy has held up well in the face of the Covid-19 crisis and could even boom this year, says a top government economist.
This content was published on
2 minutes
NZZ am Sonntag/jc
Eric Scheidegger, director of the State Secretariat for Economic Affairs, told the NZZ am Sonntag that the outlook for 2021 is good, despite the current shutdown of some sectors. In an interview with the newspaper he predicts that the Swiss economy will grow by 3% or even 4% this year.
“We expect the containment of the virus to succeed and vaccination to enable a rapid and strong recovery from spring onwards,” he says.
The crisis only caused the Swiss economy to shrink by 3% last year, compared with 6% for neighbouring Germany and Austria and 9% for France and Italy, he says. This can be explained by the fact that Switzerland’s spring lockdown was less strict than in France, for example. “In addition, we reopened the shops more quickly,” Scheidegger told the NZZ am Sonntag. “In general, domestically-oriented companies recovered very quickly in the summer. Domestic tourists also helped. Switzerland’s industry structure, with its large share of chemicals and pharmaceuticals, also proved a stabilising factor.”
He says the second wave of coronavirus infections in late 2020 has had much less of an impact on Swiss consumer behaviour than the first. And the feared wave of layoffs has not happened so far, thanks partly to short-time working subsidies.
“In contrast to the spring, global trade is much more robust. China is growing strongly again, which helps exporters,” says Scheidegger. However, the European market remains crucial for Switzerland, he points out. “The recovery there needs more time.”
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
This content was published on
A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
This content was published on
The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
This content was published on
Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
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
Economic outlook for Switzerland in 2021
This content was published on
The pandemic has shaken up the Swiss economy, but affected sectors differently. What future for Switzerland as a business and research location?
This content was published on
Official statistics revealed on Monday that Swiss hotels had 9.3 million fewer overnight stays between May and October than for the same period in 2019. While more people living in Switzerland booked into hotels, the number of foreign guests fell by three quarters. Overnight stays have been put at 10.2 million for the summer months.…
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.