Economic news
Swiss government says it expects economic slowdown but no recession
2023.02.28 08:18
© Reuters. FILE PHOTO: Shoppers walk at the Bahnhofstrasse street, as the spread of the coronavirus disease (COVID-19) continues, in Zurich Switzerland March 13, 2021. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – The Swiss economy is expected to slow this year but will not slide into a recession, the government said on Tuesday, after it reported zero growth at the end of 2022.
“From the current perspective I would not expect a recession,” Eric Scheidegger, the Head of the Economic Policy Directorate at the State Secretariat for Economic Affairs, told reporters.
He cited the mild winter, which had helped Europe avoid an energy crisis, and recent data on economic activity which he said was encouraging.
