Economy to continue growing

Forecasts for the Swiss economy are looking increasingly optimistic. The first quarterly report published this year by Switzerland's main employers organisation is predicting growth of up to 2.2 per cent for the economy in 2000.

Forecasts for the Swiss economy are looking increasingly optimistic. The first quarterly report published this year by Switzerland’s main employers organisation is predicting growth of up to 2.2 per cent for the economy in 2000.

The forecast is much the same as in the last outlook released in December, but the overall tone of the latest report is much more optimistic. It sees positive developments both domestically and in the export markets, and says that even the construction industry appears to have definitively overcome the recession.

But the organisation warned that the improvement should not be an excuse to relax pressure for reforms to the tax system, social security services, energy sector and to cut the costs of regulation. It said the upturn was an opportunity to pursue these changes to ensure a long-term strengthening of the Swiss economy.

The report also says that the international context is favourable, with growth in Switzerland’s main markets, continental Europe and the United States, expected to continue. It said the only uncertainties were the evolution of the Japanese economy, the instability of financial markets and the structural problems of emerging markets.

swissinfo with agencies