The Swiss think tank, State Secretariat for Economic Affairs predicts that Switzerland will see its GDP grow by 3 percent in 2021.
In Last October, the Swiss economy was expected to grow by 3,8 percent. However, in December, the government expert center revised the forecast due to COVID-19 pandemic and measures undertaken to fight the spread of virus, expecting 3% growth.
“The Expert Group expects growth in GDP adjusted for sporting events of 3.0 % in 2021 (unchanged forecast).
This would see the Swiss economy grow at an above-average rate by historical standards, and the pre-crisis GDP level being exceeded by late 2021,” SECO said.
The country will see its economy slump in the first quarter of the year, but easing anticoronavirus measures will quickly restore the economy, the experts said.
The group added that the pandemic could influence the Swiss economy until 2023 because of virus mutations more resistant to the existing vaccines