Economic After COVID
Many countries all around the world have been affected by Covid-19 especially Switzerland. Because of coronavirus, Swiss’s GDP down to about 6.7% Revill, 2020). The last time Swiss GDP shrunk was in 1975 Revill, 2020). However, there are predictions that in 2021, the Swiss GDP will increase back to how it used to be Revill, 2020). The unemployment rate is expected to increase by 3.9% in 2020 and in 2021 Swiss unemployment is expected to increase by 0.2% totaling in 4.1% And Because of COVID-19, the Swiss populations were affective in negative ways leaving more than 63% of Swiss people without jobs (Revill, 2020).
Switzerland’s government is doing it’s best to aid the country by distributing aid packages to businesses all around the country (Swissinfo.ch. 2020). The Swiss government agreed to $14.2B to help finance unemployment insurance, businesses and non-profits etc. (Swissinfo.ch. 2020 ). Because of the government helping Swiss people, they are able to slowly get back on their feet.
The economic freedom score in Switzerland is currently 82.0 which is the 5th freest in 2020. In June 2020, the score increased by 0.1 points (Economic freedom, 2020). Out of 45 European countries, Switzerland is ranked number 1 (Economic freedom, 2020). They are still the number 1 country in the world with a stable economy (Economic freedom, 2020). Swiss is now making major improvements from the pandemic and hopefully, by next year they will be even much better improvements.