Switzerland must reform to keep global lead, says OECD

Switzerland must embrace tax and pension reforms to preserve its status as one of the world’s top economies, the OECD said, raising its growth forecast for the country. The Paris-based organisation now anticipates expansion of 2% this year, up from 1.1% predicted in June, following a surprisingly strong performance in the second quarter. Officials cautioned that risks of trade impediments and a renewed appreciation of the franc remain elevated for the export-oriented economy. Looking ahead, the OECD stressed that Switzerland faces housing shortages, an aging population and growing geopolitical challenges that will create long-term spending pressures, requiring the government to increase tax revenue. “Prudent macroeconomic management, including a successful debt brake rule, have been key to withstanding repeated shocks,” it said in a report released Tuesday. “But reforms will be needed for Switzerland to remain one of the world’s most competitive and innovative economies.” + ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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