Federal Council paints a positive picture of the Swiss economy
Published: Wednesday, May 22nd 2024, 14:40
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The Swiss economy remains well positioned overall. This is the conclusion reached by the Federal Council in a situation report adopted on Wednesday. Even against the backdrop of the industrial policy renaissance abroad, Switzerland remains competitive.
"Switzerland continues to be one of the most successful economies in the world," Economics Minister Guy Parmelin told the media in Bern. It has weathered the past four crisis-ridden years well. The Swiss economy has once again proven to be extremely resilient, said Parmelin.
However, the economic policy environment remains challenging. In its report, the Federal Council mentioned in particular the industrial policy initiatives in the EU and the USA, which also included subsidies that distort competition. However, the majority of these subsidies are unproblematic for the Swiss economy and even open up new sales opportunities for Swiss producers.
As an open economy, Switzerland should continue to refrain from protectionist and competition-distorting measures in favor of individual companies and sectors in the future, the Federal Council continued. Instead, a sustainable strengthening of Switzerland as a business location should be achieved through a continuous improvement of the economic framework conditions and a reduction in production costs for companies.
The Federal Council lists future challenges such as the negotiation package with the EU, the further expansion of the network of free trade agreements and the implementation of the new Corporate Tax Relief Act. The revision of the Cartel Act and the reform of the competition authorities, the further promotion of the exploitation of labor potential, the acceleration of the expansion and conversion of the electricity grids and the planned reforms to the AHV are also part of the economic policy agenda for the coming years.
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