Growth is recovering gradually (projected at 1.3 percent in 2024) after slowing in 2023 (0.8 percent). A tight monetary stance and disinflation abroad have brought inflation within SNB’s 0–2 percent price stability range, and the SNB lowered its policy rate in March 2024, ahead of other major central banks. The external current account has remained in surplus but declined, while the general government surplus declined in 2023. Fiscal fundamentals are strong with low debt levels, but mounting spending pressures and remaining future financing gaps in the pension system, including stemming from the recent vote on a 13th monthly pension payment, need to be addressed. The state-facilitated acquisition of Credit Suisse (CS) by UBS stabilized markets, and the authorities have published reform proposals based on their review of the transaction and the TBTF framework. Negotiations with the EU restarted. Climate policy progressed. Medium-term challenges include labor shortages and skill gaps.
- Format
- Paper
- Frequency
- regular
- ISBN
- 9798400279065
- ISSN
- 1934-7685
- Pages
- 74
- Published in
- United States of America
- Series
- Country Report No. 2024/179
- StockNumber
- 1CHEEA2024001
Table of Contents
- Switzerland—2024—Staff Report for the Article IV Consultation (Bundle) 5
- CONTEXT 9
- recent economic developments 9
- OUTLOOK AND RISKS 13
- POLICY DISCUSSIONS 14
- A. Fiscal Policy 14
- B. Monetary Policy 17
- C. Financial Sector 19
- D. Structural Policies 23
- STAFF APPRAISAL 27
- Switzerland - 2024 - Informational Annex for the Article IV Consultation (Bundle) 68
- FUnd relations 69
- ED Statement - Switzerland Art IV 2024 71
- Statement by Mr. Peter and Mr. Kuth on Switzerland Executive Board Meeting 71
- PR24216 - Switzerland - IMF Executive Board Concludes 2024 Article IV Consultation with Switzerland.pdf 1
- FOR IMMEDIATE RELEASE 2
