Switzerland: 2019 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Switzerland
IMF Staff Country Reports, June 26, 2019
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- Switzerland: 2019 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Switzerland
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Bibliographic details
- Published: June 26, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498321488.002
Overview
- The Swiss economy has performed relatively well since the global financial crisis.
- Growth compares favorably with most other advanced countries and aggregate employment has grown robustly.
- The fiscal position is strong and the external trade surplus remains large and stable despite several episodes of intense appreciation pressure owing to the Swiss franc’s reputation as a safe haven.
Economic outlook and risks
- Growth is expected to temporarily dip to 1.1 percent in 2019 on weakness in external demand.
- Risks to the outlook are tilted down.
Policy challenges and implications
- Low interest rates are fueling risks in the real estate and mortgage markets.
- Persistent subdued inflation has decreased the operational space for monetary policy.
- Population aging and technological change will require further upskilling and generate new demands for public resources.
International Monetary Fund. Switzerland: 2019 Article IV Consultation - Press Release; Staff Report; and Statement by the Executive Director for Switzerland, June 26, 2019.
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