ZURICH—The Swiss government significantly cut its economic growth forecasts on Tuesday, citing growing risks from a “tense energy situation and sharp price increases.”
It now expects the country’s economy to expand 2.0 percent this year, down from its June forecast for 2.6 percent growth.
In 2023 the economy is expected to expand by 1.1 percent, the State Secretariat for Economic Affairs (SECO) said, down from the previous expectation of a 1.9 percent increase.
The figures are adjusted to remove the effect of major sporting events.
“After a positive first half of the year 2022, the Swiss economy now faces a deteriorating outlook,” SECO said. “A tense energy situation and sharp price increases are weighing on economic prospects, especially in Europe.”…
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