IMF calls for flexibility to meet economic challenges
The International Monetary Fund (IMF) recommends that Switzerland continue its current fiscal policy to meet the new challenges facing the country’s economy.
This content was published on April 6, 2022 – 18:03
In his annual reviewExternal link Released on Wednesday, the IMF said Switzerland had recovered strongly from the pandemic last year, but uncertainties remained high amid risks of rising inflation and negative spillovers from the war in Ukraine.
“Policies must continue to be nimble in responding to these challenges,” a statement said.
The IMF also recommends careful planning and lower non-priority spending or higher revenues to address old age pension reforms, climate, defense and energy security as well as tax reforms.
“There is room for deficits, but the fiscal framework is solid and not easy to change,” the IMF said.
The international institution, made up of 190 countries, recalled that Switzerland had resisted the Covid pandemic well, but that the risks of the financial sector were increasing and needed to be closely monitored.
The IMF expects economic growth in Switzerland to remain above average at 2.2% this year.
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