Switzerland: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland
IMF Staff Country Reports, June 2, 2003
Source details
- Canonical URL
- Switzerland: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland
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Bibliographic details
- Published: June 2, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451807202.002
Overview
- Publication date: June 2, 2003
- This 2003 Article IV Consultation assesses recent economic developments in Switzerland following a solid expansion in 1997–2000 and identifies a subsequent stall in growth.
- Core factors noted: global slowdown affecting exports, a sharp downward correction in domestic investment from earlier high levels, and pronounced strains in the financial sector.
Key findings
- Economic growth: stalled following expansion in 1997–2000.
- Exports: hurt by the global slowdown.
- Domestic investment: undergone a sharp downward correction from earlier high levels.
- Financial sector: hit particularly hard, in part because of steep declines in equity prices both in Switzerland and abroad.
- Unemployment: has doubled, although it remains low by international standards.
- Inflation: negligible.
- External current account: running a large surplus.
Subjects and keywords (as listed)
- Subjects: Commodity markets, Deflation, Economic sectors, Exchange rates, Financial markets, Financial sector, Foreign exchange, Inflation, Prices
- Keywords: authority, Commodity markets, CR, debt, debt brake legislation, debt brake rule, Deflation, Exchange rates, federal deficit, Financial sector, Global, Inflation, ISCR, monetary policy stance, trend inflation
Switzerland: 2003 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland