Brexit weighs on the Swiss GDP

The Brexit, according to experts of the BAK Basel research center, will also have consequences for Switzerland. In a statement released today, the institute revises downwards its forecasts for Swiss GDP, with an expected growth for 2017 at 1.5% and 2% for 2018.

Before the British vote, the forecast was an increase respectively of 1.7% and 2.2%. In the current year should not however expect appreciable consequences to gross domestic product is expected to grow as forecast by 1%.

In the new estimates it is considered that the effects of Brexit hit especially Britain, but not sparing the Confederation. The franc is again subjected to upward pressure, and the uncertainty as to future developments is also growing among the Swiss companies.
In the short term the federal government should then draw little profit from the relocation of companies from Britain, as these will seek primarily destinations in the European Union. The Bakbasel researchers stress, however, that at present the forecasts are accompanied by "many uncertainties", as the form of the future cooperation between Brussels and London is not yet clear.