ICYMI – Switzerland has slashed financial progress forecasts
Each the Swiss authorities and the non-public KOF Swiss Financial Institute count on slower progress for the financial system.
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Switzerland’s State Secretariat for Financial Affairs (SECO) Financial Progress Forecasts:
- 2023: Swiss financial system projected to develop zero.9% (down from a previous forecast of 1.2%).
- 2024: Progress forecast revised to 1.5% (beforehand 1.6%).
- 2026: First forecast predicts 1.7% progress.
- All forecasts are under Switzerland’s long-term common progress of 1.eight%.
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Elements Impacting Progress:
- Slower international demand, significantly from Germany and China, is weighing on exports.
- Home demand anticipated to drive progress in 2024.
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Dangers Forward:
- US commerce coverage, together with tariffs underneath the incoming Trump administration, provides uncertainty.
- Broader worldwide financial and commerce coverage stays unpredictable.
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KOF Swiss Financial Institute Forecast:
- Expects progress of 1.four% in 2025 and 1.7% in 2026.
- Predicts weak overseas demand till mid-2025, with gradual enchancment thereafter.
This text was written by Aaron Cutchburt at www.ubaidahsan.com.
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