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IMF praises Switzerland’s response to the Covid-19 Pandemic

Despite the difficulties posed by the Covid-19 Pandemic, Switzerland’s GDP, according to the latest data from the International Monetary Fund (IMF), is expected to grow 3.5% in 2021 and 2.8% in 2022.

This thanks to its solid domestic economies, with particular reference to the competitiveness of its export industries (such as the chemical and pharmaceutical ones), to a structured and well-capitalized financial sector, as well as to the speed and effectiveness of the emergency measures (over 10% of GDP) implemented to support income and businesses.

Given the persisting uncertainties, the IMF suggests to keep on sustaining the recovery and maintaining support measures for the labour market, recommending further expansionary monetary policies. In the long term, the Fund encourages to focus on sustainable digital growth with targeted measures, especially in key economic sectors.

SOURCE: www.imf.org