Tag Archives: Business & Economy

© Marlon Trottmann _ Dreamstime.com This week, the Federal Council rejected two very different initiatives aimed at changing the state pension system. In common with much of the developed world, Switzerland is facing a large gap between the money required to fund state pensions and the money flowing in to pay for them, a challenge driven by increasing life expectancy, a rise in the number of pensioners as the population ages and the way the system is funded....

The gross mean household income in Switzerland was CHF 114,984 (US$ 125,000) in 2019, according to the Federal Statistical Office (FSO). © Petrina Calabalic | Dreamstime.comOverall, 40% of households in Switzerland had income over this mean while 60% brought in less. 73% of this income came from working, 23% came from pensions, welfare and household transfers such as alimony, and 4% from investment income. In many places an income this high would offer a life of mild extravagance....

This week, the Federal Council rejected two very different initiatives aimed at changing the state pension system. © Marlon Trottmann _ Dreamstime.comIn common with much of the developed world, Switzerland is facing a large gap between the money required to fund state pensions and the money flowing in to pay for them, a challenge driven by increasing life expectancy, a rise in the number of pensioners as the population ages and the way the system is funded. Switzerland’s government is...

On 19 November 2021, the Euro went below 1.05 Swiss francs, the lowest it has been since July 2015. © Skovalsky | Dreamstime.comThe Swiss franc is viewed as a safe haven currency and tends to rise when markets are bearish. However, this week the shift in exchange rate may have had more to do with the situation in Euro zone than a shift to safety. The Euro has recently weakened against a number of currencies including the Yen, US dollar and Pound. Currency traders appear to be concerned...

Online harassment and cyberstalking are increasingly widespread in Switzerland, according to a recent survey. And the problem is no longer confined young people, reported RTS. © Katie Nesling | Dreamstime.comThe survey, which questioned 4,000 18-65 year olds in Germany, Austria and German-speaking Switzerland between 2 and 11 August 2021, found that the number of cases of harassment had increased by 10.6% since 2018. 39% of those surveyed said they had been harassed at least once....

Last weekend the management of one of Switzerland’s two largest supermarkets voted in favour of selling alcohol in its stores, reported the company. © Tea | Dreamstime.comCompany founder Gottlieb Duttweiler, who passed away in 1962, did not want the business to sell alcohol, something that was prevented by the cooperative’s constitution. Duttweiler did not want to fuel alcohol addiction with cut-price beer or other alcoholic beverages sold by the business he founded in 1925. However, on 7...

This week, Switzerland’s Federal Statistical Office published the latest cantonal GDP figures. Switzerland’s overall GDP growth in 2019 was 1.2%. However there were wide cantonal differences. © Eva Bocek | Dreamstime.comThe six fastest growing cantons in 2019 were Obwalden (+3.5%), Glarus (+3.2%), Zug (+2.7%), Basel-City (+2.6%), Luzern (+2.6%) and Valais (+2.5%). At the other end of the spectrum were the cantons of Basel-Landschaft (-0.1%), Nidwalden (-0.3%) and Zurich (-0.5%). To...

A group called Opération Libero and the Green party plan to come together to launch a referendum to require Switzerland’s federal government to sign new deal with the EU. © VanderWolfImages | Dreamstime.comAt a meeting on 26 May 2021, Switzerland’s Federal Council evaluated the results of Switzerland’s negotiations with the EU around the institutional framework agreement, an agreement aimed at replacing the country’s current patchwork of agreements with the bloc, and decided not to sign,...

At the end of October 2021, annual inflation in Switzerland reached 1.2% after rising 0.3% over the month, according to the Federal Statistical Office. This is the highest the annual rate has been since August 2018 when it reached 1.2%. © Cameracraft8 | Dreamstime.comThe price rises hitting Swiss pockets the hardest over the last 12 months include rent (+1.4%), heating (+12.0%) and transport (+7.3%). Rising fuel prices are behind the jumps in heating and transport costs. On the other...

© Ginasanders | Dreamstime.com The latest forecast for 2021 shows a deficit of CHF 14.8 billion, down CHF 2.6 billion from an earlier forecast shortfall of CHF 17.4 billion. The deficit is driven mainly by the extraordinary cost of responding to the Covid-19 pandemic. The federal government expects to spend CHF 4.1 billion on vaccines (1.2) and tests (2.5) in 2021. However, the largest share of extra spending is on full and partial unemployment benefits (6.9)....