The Swiss economic momentum is slated to recuperate over the next two years as the overall condition of the global economy slowly improves, the government said.
According to the State Secretariat for Economic Affairs, the gross domestic product will expand 1.5% in 2016 and 1.9% in 2017. Its previous forecast indicated 0.9% growth this year, followed by 1.5% next year.
SECO, in a statement, said domestic demand should remain a significant pillar of the economy. Although exports are not awaited to render any impetus this year, it anticipates optimistic contributions to growth from foreign trade in products and services.
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