ZURICH: Switzerland's economy is expected to shrink by 3.3pc this year before recovering in 2021, the government said on Tuesday, adding the second wave of the coronavirus will slow the rebound next year.
The 2020 forecast is an improvement from the 3.8pc decline predicted by the State Secretariat for Economic Affairs (SECO) in October, although it would still be the worst downturn the country has seen since 1975.
SECO said it expects the Swiss economy to grow by 3pc in 2021, slower than the 3.8pc rate previously forecast.
Comments
Comments are closed for this article.