A survey by the bank UBS suggests the Ukraine conflict will have a small impact on the Swiss economy, but shouldn’t threaten jobs.
The bank says higher energy prices will curb GDP growth this year from the initially expected 2.8% to 2.5%.
Similarly, next year’s prediction is down from 1.7% to 1.5%.
The bank points out Russia accounts for only 1.5% of Swiss exports – but this country does import 40% of Russian gas and 10% of petroleum.
But order books are full and the job market remains healthy, says the bank. It expects the current high value of the franc will fall back – helping exporters.
It also expects interest rate normalisation not to start until next year.
Govt ready to step in on train staff attacks
Police have to disclose nationality of offenders
Valais bar association says no new fire laws are needed
Major Swiss firm to cut jobs
Post your ballots on time
This winter was significantly warmer than average
