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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
While Switzerland has weathered the global crisis better than other OECD economies, challenges remain for monetary and fiscal policies, as well as financial market regulation.
While Switzerland has weathered the crisis better than other OECD countries, it may have a lasting impact on the Swiss economy. The need for further structural reforms results from fiscal sustainability issues related to ageing and weak trend productivity growth.
The comparatively large magnitude of the losses of the two largest banks of Switzerland in relation to capital has underscored the systemic risks to the economy posed by the institutions’ size relative to Swiss GDP and their extensive cross-border and cross-currency activities.
The Swiss National Bank took decisive action to support financial market stability and dampen the recession. In the current situation, the main challenge facing the SNB concerns the exit strategy.
The Swiss education system performs well in many important dimensions. Remaining challenges include raising education outcomes of children with modest socio-economic background. Removing barriers to higher tertiary attainment could also help raise productivity.
Renting accommodation in Switzerland is considerably more expensive than in other high income OECD countries.
Economic forecasts for GDP, unemployment, inflation and fiscal balance.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
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External links to: recent economic data; current interest rates and exchange rates; latest macroeconomic reports; current outlook and projections; government budget information; speeches; relevant sites.