Swiss economy back to normal: top treasurer



It pays to invest as well as save and reduce debt in good years, says Sabine D’Amelio Favez, director of the Federal Finance Administration. Keystone / Peter Schneider

Federal Finance Administration director Sabine D’Amelio-Fávez says Switzerland’s economy will return to its pre-pandemic levels earlier this year and does not need a stimulus package.

This material June 19, 2021 – 12:13 . was published on

keystone-sda/jessie

In an interview published on Saturday by CH Media Group newspapers, he said the confederation has taken a loan of CHF30 billion ($33 billion) to avert the economic consequences of Covid-19. This is a huge amount, but Switzerland was in an excellent position before the outbreak of Covid-19, he told the papers.

The crisis has shown that it pays to save and reduce debt in good years, so you can spend extra to tide over the crisis, she said. Compared to other countries, Switzerland did not neglect investment before the crisis, expanding spending on infrastructure, education and innovation, D’Melio-Fávez continued.

He said that the Federal Finance AdministrationExternal Link There was also a pleasant surprise by tax revenue trends. The director concluded that direct federal tax revenue in the first quarter of 2021 was at the same level as the first quarter of 2020. So Switzerland is already back to normal.

She said that Swiss companies have gone through the crisis overall, which is also thanks to the support of the federal government. Small companies and sectors have been hit the most and large companies the least. This had an impact on taxes, D’Amelio-Fávez pointed out.



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