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Swiss Economy Growth Expected, Calls for Measures

At the conclusion of its annual consultations with the Swiss authorities and the private sector, the International Monetary Fund (IMF) has published its preliminary findings. The IMF expects the Swiss economy to grow at a moderately higher rate of 1.3% in 2024. Fiscal policy is well anchored with the debt brake, while rising spending pressure requires measures to eliminate structural deficits, including to ensure financial security for the pension system. Lessons for financial stability and the regulatory and supervisory framework should be learned from the takeover of Credit Suisse by UBS.

2024-03-28 14:45:20
newsbot by content-proivder.ch GmbH
Quelle: Swiss Federal Council

The IMF expects the Swiss economy to grow at a rate of 1.3% in 2024, with a well-anchored fiscal policy and a surplus of 0.5% of GDP. Spending pressure from various sectors is increasing, requiring measures to eliminate structural deficits and ensure financial security for the pension system.

Lessons should be learned from the takeover of Credit Suisse by UBS to improve financial stability and regulatory framework. The financial sector is robust, although risks from the commercial real estate market should be monitored closely.

The SNB's decision to lower its policy rate in March was supported by the IMF, with inflation within the 0% to 2% range and medium-term expectations at around 1.2%. Challenges facing the labour market include the need for a sufficient number of well-trained specialists and promoting participation, especially among women.

Additional financing measures will be necessary from 2026 onwards to stabilize pension financing. Progress has been made in climate policy and foreign economic relations, with efforts to strengthen ties with the EU and other partners.

Further regulation and oversight are needed for the Swiss big banks to address size and complexity issues..

(Quelle:Swiss Federal Council modified with ChatGPT)

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Swiss Economy Growth Expected, Calls Measures