Though Switzerland’s GDP grew substantially in the first few months of 2023 and energy prices continue to fall, the Swiss federal government’s expert group expects significantly below average growth for the Swiss economy in 2023 in its latest forecast, with a GDP growth rate of 1.1%. According to the expert group, comparatively high inflation rates are to be expected in the short-term in Switzerland, with a stabilisation at 2.3%, as the dampening effects of declining energy prices are offset by continuing price pressure in other areas. Nevertheless, a modest growth in consumption is expected in 2023 bolstered by a solid labor market.
According to the expert group, domestic demand will be the main pillar of growth in 2023 and not foreig…
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