How much did the pandemic cost the Swiss economy?

The coronavirus has cost the Swiss economy up to 16 billion euros a month, the head of the Swiss central bank said in an interview published by some Swiss media today. “We need to remember the oil crisis of the 1970s to find such a collapse in economic growth,” Thomas Jordan said in an interview with Tamedia’s print media.

He found that the Swiss economy was functioning only 70-80% of its normal level. The impact of the measures imposed to stop the spread of the virus has led to high economic costs that reach from 11 to 17 billion Swiss francs every month “, added the director of the Swiss National Bank (BNS), ATSH reports.

Switzerland has not ordered a total population restriction, but has imposed a series of urgent measures in mid-March, particularly closing restaurants and most other companies to fight the spread of COVID-19.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.