Tag Archives: 3.) Investec

© Evgeniy Lapshin | Dreamstime.com On 20 September 2022, government forecasters announced downgraded expectations for GDP growth in Switzerland. A group of experts focused on predicting business cycles downgraded expected GDP growth to 2.0% in 2022 and to 1.1% in 2023. After a positive first half of the year the Swiss economy now faces a deteriorating outlook, said the group. A tense energy situation and sharp price increases are weighing on economic prospects across...

In many places one language is all that is required at work. In Switzerland, 37.7% of workers surveyed reported regularly using two or more languages at work, according to data published by the Federal Statistical Office on 6 September 2022. Photo by fauxels on Pexels.comWhile 62.3% used only one language at work, 22.2% regularly used two and 15.5% used three or more. These figures are somewhat boosted by a linguistic quirk of Switzerland. In the majority...

© Bartolomiej Pietrzyk | Dreamstime.com Switzerland’s Gross domestic product (GDP) grew 4.2% in 2021, according to recently released data by Switzerland’s Federal Statistical Office (FSO). The increase follows a decrease of -2.4% in 2020, a year marking the beginning of the Covid-19 pandemic. Thanks to this upswing, GDP in 2021 was above the level of 2019, although some areas of the Swiss economy, such as hospitality, continued to suffer from the pandemic. Gross...

Like most central banks the Swiss National Bank (SNB) is tasked with monetary stability. However, in the process it can inadvertently generate large profits and losses. SNB – BernWhen monetary policy is expansionist and the resulting assets held by the SNB rise in value it can generate large profits as it has over the last few years. However, when the Swiss franc strengthens and asset values slump the bank can generate large losses as it did in the first half of...

Even before high inflation hit people’s pockets many Swiss households were over extended. In 2020, almost one in six residents lived in a household with debt arrears, according to data released this week by the Federal Statistical Office (FSO). Photo by Pixabay on Pexels.com The most common overdue payments were taxes (7.5%), health insurance premiums (5.5%), phone bills (4.1%), utility bills (3.4%), credit cards and other loans (2.7%) and rent or mortgage payments...

In Switzerland, it is possible to pay delinquent debts with large sums of cash. Some criminals are using the loophole to launder money, reports Le Matin. Photo by MART PRODUCTION on Pexels.com Swiss broadcaster SRF investigated several official debt enforcement offices across Switzerland and found that large sums of cash were passing through some of them. In Geneva, CHF 24 million of cash passed through its cantonal offices des poursuites in 2021, some of it dirty,...

© Cameracraft8 | Dreamstime.com This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew. The Euro-Swiss Franc pair fell below 1.00 franc per euro during the morning of 29 June 2022 and remained below 1.00 until the morning of 1 July 2022 when the value of a euro exceed that of a franc. The pair has not been this low since 2015. The rise has been driven by the franc’s haven status...

Switzerland’s leaders are concerned by the current volatility of electricity prices and have started planning for a potential disaster scenario, reported RTS. Photo by Pok Rie on Pexels.comThe war in Ukraine has impacted energy provision across Europe, said Swiss energy minister Simonetta Sommaruga on Thursday. Price movements have reached historical levels and could worsen if gas supplies from Russia stop. If the price of gas spikes, some electricity suppliers could...

Data published on 17 March 2022 showed a 15.4% jump in Swiss exports in February 2022. The sharp rise in exports when combined with a 2.9% fall in imports led to a monthly trade balance of CHF 5.7 million. This is the first time in history that Switzerland’s monthly trade balance has exceeded CHF 5 million. Photo by RODNAE Productions on Pexels.comIn February 2022, Switzerland exported CHF 24.0 billion worth of products while importing CHF 18.3 billion, creating a...

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.com Since the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022,...