June 16, 2020 / 5:56 AM / 20 days ago

Swiss govt expects economy to shrink 6.2% in 2020

ZURICH, June 16 (Reuters) - Switzerland’s economy will shrink by 6.2% in 2020, the government said on Tuesday, the worst downturn in more than 40 years, as the country grapples with the consequences of the coronavirus pandemic.

A gradual recovery is expected during the second half of the year provided a massive second wave of the disease along with severe restrictions does not occur, the State Secretariat for Economic Affairs (SECO) said.

The forecast was a slight improvement from the 6.7% downturn in GDP foreseen by the government’s economists in their April statement. In 2021, the economy is expected to grow by 4.9%, it said. (Reporting by John Revill, editing by Silke Koltrowitz)

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