Economy predicted to return to pre-virus levels by 2022 at the earliest
The thinktank, Economiesuisse, says the economy will take a long time to recover and won’t be back to pre-virus levels until 2022 at the earliest.
The association says the main drag will be the international situation which will hit exporters – the main driver of the Swiss economy.
It expects GDP to contract by 5.4% this year.
And then next year the economy will not be as dynamic – despite GDP growth predicted at 4.1%.
Economiesuisse likens the Covid-19 shock to the oil crises of the 1970s when GDP collapsed by nearly 7%.