ZURICH (Reuters) – The Swiss government maintained its growth forecasts for 2023 and 2024 on Thursday, highlighting a strong start to the year on the back of falling energy prices but pointing to lingering inflationary pressures internationally. and economic risks.
Switzerland’s gross domestic product (GDP) growth is expected to slow to 1.1% this year, after +2% in 2022, before rebounding to 1.5% next year, the state secretary said. to the economy (Seco), confirming its previous forecasts published in March.
“The Swiss economy showed a dynamic evolution at the beginning of the year and the fall in energy prices continues”, notes the Seco in a press release, pointing in particular to the strength of private consumption.
“Current indicators, however, are sending mixed signals. In general, we can expect a weaker development of the Swiss economy in the second quarter,” adds Seco.
The government has lowered its inflation forecast for this year to 2.3% from 2.4% previously, and expects inflation to reach 1.5% in 2024.
While inflation remains low by international comparisons, it remains above the Swiss National Bank’s (SNB) target of between 0% and 2%.
The SNB is due to update its economic forecasts in its next monetary policy announcement on June 22.
(Report Tomasz Janowski, Blandine Hénault for the , edited by Bertrand Boucey)
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