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Financial News: OECD Expects Swiss Growth To Pick Up In

OECD Expects Swiss Growth To Pick Up In 2025

03/14/2024 - 08:36:00 (RTTNews)

(RTTNews) - The Organisation for Economic Co-operation and Development said the Swiss economic growth is set to pick up next year but cited geopolitical tensions, shifts in trade patterns and tight financing conditions as challenges to growth.

In the OECD Economic Survey of Switzerland, the agency said the economy will grow moderately by 0.9 percent this year before picking up to 1.4 percent in 2025.

Inflation is forecast to climb temporarily again above 2 percent over the course of 2024, pushed up by rent and electricity price increases and changes to value-added tax rates.

The OECD observed that the fiscal position of the nation is solid. Addressing growing spending pressures from population ageing and the green transition would help to ensure fiscal sustainability, said OECD.

Further, the agency noted that with a dynamic economy, a highly skilled workforce and prudent macroeconomic policies, unemployment and inflation are low and living standards are among the highest in the OECD.

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