Economic Impact of COVID-19 on Switzerland and its Policy Response

ambarish — Fri, 05 Jun 2020 17:39:16 +0000

Switzerland’s economy is expected to be adversely affected by COVID-19 pandemic in 2020. The real gross domestic product (GDP) of Switzerland is expected to shrink, unemployment level to increase and current account balance to show negative growth due to COVID-19 this year. As of 05^th June 2020, Switzerland had 30936 confirmed COVID-19 cases out of which 28600 people have recovered from the disease while 1921 have lost their lives.

In this blog post we will be focusing on economic impact of COVID-19 pandemic on Switzerland. We will also be taking a look at the social, fiscal and employment related policy measures taken by Switzerland government under following sections –

Impact of COVID-19 on Switzerland Economy in 2020
Coronavirus (COVID-19) Containment Measures of Switzerland
Coronavirus (COVID-19) Related Fiscal Policy Measures by Switzerland
Coronavirus (COVID-19) Related Employment Policy Measures by Switzerland
Coronavirus (COVID-19) Related Social Policy Measures by Switzerland

We have covered various macroeconomic factors and PESTLE (political, economic, social, technological, legal, and environmental), SWOT (Strengths, Weaknesses, Opportunities and Threats) and risk analysis for Switzerland in separate 91��Ƭ�� reports.

1. Impact of COVID-19 on Switzerland Economy in 2020

Switzerland’s real gross domestic product (GDP) was CHF 708.272 billion in 2019 and due to COVID-19 outbreak it is estimated to shrink by 5.966% to be around CHF 666.016 billion in 2020.

Switzerland’s unemployment rate was 2.306% of total labor force in 2019. Due to slowdown in global economic activity due to COVID-19 pandemic the unemployment is expected to increase by 15.38% and reach 2.725% in 2020. Unemployment is further estimated to decrease in...

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