Swiss cut economic growth forecasts, citing war and inflation
Shoppers walk along the Bahnhofstrasse shopping street in Zurich, Switzerland March 1, 2021. REUTERS/Arnd Wiegmann/File Photo
Register now for FREE unlimited access to Reuters.com
Register
ZURICH, June 15 (Reuters) – The Swiss economy is expected to expand by 2.6% in 2022, the government said on Wednesday, becoming the latest region to downgrade its growth estimates due to the war in Ukraine and uncertainties in China.
The deceleration, from the previous forecast for 2.8% growth in March, was also due to rising prices for food and energy, the State Secretariat for Economic Affairs (SECO) said.
SECO also reduced its forecast for GDP growth in 2023 to 1.9% from the 2.0% rate it previously expected. All the figures are adjusted to take out the effect of sporting events.
Register now for FREE unlimited access to Reuters.com
Register
“The Swiss economy made a solid start to the year, but prospects for the international environment have waned,”…
