Switzerland is facing difficult economic years due to an impending recession in Europe, the energy crisis and high inflation that undermines the purchasing power of consumers. Justice Minister Karin Keller-Sutter told the Neue Zürcher Zeitung.

According to her, the economic problems in the euro countries are noticeable in Switzerland. The Alpine country is largely dependent on the rest of Europe for its trade.

“I consider this situation very difficult. We feel the same way in Switzerland. Economically difficult years await us.”

In September, the Swiss government lowered its growth forecasts due to the ”tense energy situation and sharp price increases”. The government now believes that growth will reach 2 percent this year, while in June it was expected to reach a plus of 2.6 percent. The Swiss economy is forecast to grow by 1.1% next year.

About the author: Nick Schramm

Nick Schramm is tech savvy with strong engineering education behind. His interest in sciences helps the whole WeeklyNewsReview stuff to keep informed about various topics of the modern technology.

Load More Related Articles
Load More In Politics

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Jerome Powell announces the key rate decision: it will stay for a while

In his explanation of the interest rate decision, Powell said that the Fed is now much clo…