Opinion
13:18 3 November 2021
Post by: WBJ

Ambassadors’ Corner 5

Jürg Burri, Swiss Ambassador, about high-speed internet accessibility, growth forecasts, and inflation rates.

Ambassadors’ Corner 5

WBJ: Even before the pandemic struck, the internet was the lifeline of most economies. Now, even more so. How much money has been invested in the internet in your country? How many people have access to high-speed internet (above 25 Mbps download) in your country? And how tech-friendly is your country?

Jürg Burri, Swiss Ambassador: Switzerland has the highest uptake of fixed broadband technology by the population of all wealthy countries (OECD). Every two years, the Swiss government updates its strategic framework called "Digital Switzerland" with the aim of putting people at the center of digitalization efforts and enabling structural changes. As the world's most innovative country according to the UN Global Innovation Index, Switzerland provides excellent framework conditions for successful R&D. Tech giants take notice: Google's largest development center outside of the US is in… Zurich!


WBJ: How does the growth forecast for Q4 2021 look for your country? What are the industries that have been performing well, that have been underperforming and the industries that seem to hold a lot of promise in your country?

Just like the Polish economy, the Swiss economy is recovering quickly after a comparatively mild contraction due to the pandemic. According to the latest forecasts from September 16, the Swiss GDP is expected to grow by 3.2% in 2021, driven in particular by exports with a growth of 6.3%.


WBJ: Poland recorded the highest inflation in 20 years in August, according to the early estimates by its central stats office. How high/low is the inflation in your country? What are the causes? 

Switzerland's consumer price index increased by 0.9% in August 2021 compared to the previous year (August 2020). Higher apartment rents, costs of air travel and hotel accommodation were the main drivers. The Swiss National Bank (SNB) aims for price stability, which it equates with an increase in the national consumer price index of less than 2% per year. Hence, the current increase is well within the objective of the SNB.



inflation
switzerland
high-speed internet
growth forecast
jürg burri

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