ZURICH: Switzerland's economy minister is confident Swiss companies are coping with the strong Swiss franc that he was quoted as saying in an interview on Sunday.
The companies have accepted the new situation and adjusted themselves to push ahead with innovation and efficiency, Johann Schneider-Ammann, of the pro-business Free Democrats (FDP), said in an interview with the newspaper before Easter.
He said that the strong franc has hit the profitability of companies.
"But still they are keeping jobs, defending market share instead of frivously cutting costs, in the short term this is a huge challenge but I am confident that this will make workplace Switzerland more competitive."
The Swiss franc has risen strongly against the euro and dollar, hitting a fresh high against the dollar last Friday.
Ammann also said there was a lot of liquidity in the market and that interest rates would have to rise in the future.
"The SNB (Swiss National Bank) will decide the time for this," Ammann said, adding he was not concerned about a real estate bubble in Switzerland.
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