Switzerland

All About Geneva – «Unfortunately, the most difficult time is yet to come»

20 minutes - «Unfortunately, the most difficult time is yet to come»
Written by Gabriel

Mr. Sturm, are we in a global economic crisis?

Yes, it is definitely a global economic crisis. We compare the situation with the financial crisis at the end of 2008. The question now is how we can get out of it. Unfortunately, the most difficult time is yet to come: Consumer demand will continue to decline and supply and supply bottlenecks will also increase. So we have to expect even worse economic figures than before.

Will we get less wages soon?

Wage developments are likely to be weaker than without a coronavirus pandemic. However, the situation is different in the health sector – there could even be an increase in wages.

Because of federal measures, citizens are now feeling the crisis. Is that just public perception, or has a lot changed for the economy too?

As well … as. I still hope that production operations can continue – if not everywhere. Getting a hair appointment now is difficult. Nevertheless, it is not the case that the entire added value collapses. We have to make sure that the system is maintained.

How?

Above all, the federal government must ensure that healthy companies receive the necessary money so that they can bridge financial bottlenecks.

Do we have to worry about food shortages?

I don’t think there will be major supply bottlenecks in the long term. We assume that we will continue to be able to manufacture or import the required products. There are hamster purchases at the moment, but that won’t be an ongoing issue.

How does Switzerland compare internationally?

Our advantage is that we are in a healthy fiscal position. There is much more leeway to support the population and companies than perhaps is the case elsewhere. But the Swiss economy is closely linked to other economic areas, such as Europe.

Source–> https://www.20min.ch/finance/news/story/28619701

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Gabriel

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