Home Business Swiss minister: economic situation means difficult years ahead

Swiss minister: economic situation means difficult years ahead

1 min read
Comments Off on Swiss minister: economic situation means difficult years ahead
0
45

[ad_1]

Article content

ZURICH — The threat of recession in the euro zone and beyond, an energy supply squeeze and the eroding effect of inflation on purchasing power mean Switzerland faces difficult years ahead, Justice Minister Karin Keller-Sutter told the Neue Zuercher Zeitung.

“I consider this mixed situation to be very difficult,” she said in comments published on Saturday. “We will feel this in Switzerland too. Economically difficult years await us.”

Article content

Keller-Sutter sits on the seven-member executive Federal Council.

In September, the Swiss government significantly cut its economic growth forecasts, citing growing risks from a “tense energy situation and sharp price increases.”

It now expects the country’s economy to expand 2.0% this year, down from its June forecast for 2.6% growth. In 2023, the economy is expected to expand by 1.1%. (Writing by Paul Carrel; Editing by Christina Fincher)

[ad_2]

Source link

Load More Related Articles
Load More By 
Load More In Business
Comments are closed.

Check Also

China’s Jan factory activity contracts at slower pace – Caixin PMI

[ad_1] Breadcrumb Trail Links PMN Business Article content BEIJING — China’s factory activ…