Switzerland forecasts economic growth globally and at home to slow next year, though it doesn't expect a recession, Aymo Brunetti, the government's chief economist, told Blick in an interview.
Economic ``risks have increased'' because of the crisis in the U.S. mortgage market and ``uncertainty'' in financial markets, he was quoted as saying. So far, Swiss economic data are still ``good to very good'' and a slowdown after four years of economic growth above 2 percent is ``normal,'' he told Blick.
The impact of the dollar's decline against the Swiss franc is ``not dramatic'' because it is being offset by the euro's appreciation, he said in the interview. Rising oil prices are also related to the economic boom in China and India, which in turn is positive for Swiss exports, Brunetti added. ( Bloomberg )