Swiss economy could expand by 4% in 2021, 2022 SECO tells paper

Eric Scheidegger, chief of Economic Policy Directorate at The State Secretariat for Economic Affairs (SECO), affirmably concludes a 4% growth in the Swiss economy in the years 2021 and 2022, based on his statement released by newspaper NZZ am Sonntag.  

Citing a “positive scenario”, Switzerland’s chief economist predicted the global economy to bounce bank by mid-2021 that could boost the export-laden economy of the country.

In December 2020, the SECO estimated a 3% growth in 2021 and 3.1% in 2022 after posting a 3.3% fall in the last year, its worst decline since 1975.

Scheidegger furthered that the government aid that accounted for 5% of the nation’s GDP, helped prevented a much worse economic downturn. He also said the GDP should revert to pre-pandemic levels by the end of 2021, with company investments helping the recovery.