Swiss government lowers 2022 GDP forecast amid Ukraine crisis

In the wake of rising inflation and the Russia-Ukraine war, Switzerland’s government downgrades the country’s GDP forecasts for this year.

Key details

Swiss government sees 2022 GDP (sport event adj) growth at +2.8% (previous forecast was +3.0%).

Swiss government sees 2023 GDP growth at +2.0% (previous forecast was +2.0%).

Swiss government sees 2022 CPI at +1.9% (previous forecast was +1.1%).

Swiss government sees 2023 CPI at +0.7% (previous forecast was +0.7%).

Swiss government sees higher inflation and the Ukraine conflict slowing the pace of recovery.

The pandemic situation has improved faster than anticipated.