Bloomberg News

Swiss Growth to Accelerate on Reviving Global Demand, IMF Says

April 17, 2012

Swiss economic growth will accelerate in 2013 as global demand strengthens, the International Monetary Fund said.

Gross domestic product may increase by 0.8 percent this year and 1.7 percent in 2013, the Washington-based lender said in its World Economic Outlook published today. In September, the IMF forecast 2012 growth of 1.4 percent.

Switzerland’s export-led economy is expected to expand as low unemployment is bolstering private spending and exports are defying flagging global demand as well as the franc’s strength. Swiss central bank governing board member Jean-Pierre Danthine last month said “there are growing indications that the Swiss economy is stabilizing.”

The Swiss government last month said the country’s economy will grow 0.8 percent this year before expanding 1.8 percent in 2013. Exports will climb 1.3 percent this year and 4.5 percent next, it said.

To contact the reporter on this story: Klaus Wille in Zurich at kwille@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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