Thursday , March 28 2024
Home / SNB & CHF / Experts pessimistic about 2023 outlook for Swiss economy

Experts pessimistic about 2023 outlook for Swiss economy

Summary:
The spectre of a shortage of gas supplies in western Europe has dampened the economic outlook for Switzerland. Keystone/Stefan Sauer The BAK Economics market research institute has confirmed its forecast for the Swiss economy this year, but it is more pessimistic about 2023. The Basel-based institute said it expected growth of Switzerland’s gross domestic product of 2.5% in 2022, as the economy coped well with a series of challenges. However, the BAK experts have downgraded the growth outlook for next year to 0.9% from 1.4% in June, according to a survey published on Tuesday. They warn that the expected energy shortage in Europe and a tightening of the monetary policy by the central banks would have a negative impact on Switzerland’s economy. Economic growth

Topics:
Swissinfo considers the following as important: , , , ,

This could be interesting, too:

Connor O'Keeffe writes Is the Violence in Haiti a Preview of a Libertarian Society?

Douglas French writes Tapping 401ks to Pay the Bills

Marc Chandler writes Dollar Extends Gains Against the Yen but Broadly Firmer Ahead of the FOMC

Grey Haneberg writes Reimagining Public Safety – The Case for Privatizing Security

Experts pessimistic about 2023 outlook for Swiss economy

The spectre of a shortage of gas supplies in western Europe has dampened the economic outlook for Switzerland. Keystone/Stefan Sauer

The BAK Economics market research institute has confirmed its forecast for the Swiss economy this year, but it is more pessimistic about 2023.

The Basel-based institute said it expected growth of Switzerland’s gross domestic product of 2.5% in 2022, as the economy coped well with a series of challenges.

However, the BAK experts have downgraded the growth outlook for next year to 0.9% from 1.4% in June, according to a survey published on Tuesday.

They warn that the expected energy shortage in Europe and a tightening of the monetary policy by the central banks would have a negative impact on Switzerland’s economy.

Economic growth forecasts by major research institutes and organisations range between and 1.8% and 2.8% for this year and 0.9% to 1.6% for 2023.

BAK slightly raised its inflation forecast to 2.6% for 2022, up 0.1%. Experts have reiterated that they expect the rate to drop to around 1% next year.


Tags: ,,
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *