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This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Switzerland were reviewed by the Committee on 21 September 2015. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 16 October 2015.The Secretariat’s draft report was prepared for the Committee by Petar Vujanovic and Richard Dutu under the supervision of Peter Jarrett. Secretarial assistance was provided by Dacil Kurzweg and Krystel Rakotoarisoa and statistical assistance by Patrizio Sicari.The previous Survey of Switzerland was issued in November 2013.
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Following a recession in 2009, economic growth in Switzerland bounced back strongly, outpacing its main European trading partners and matching the strength of the US recovery (, Panel A). As the recession hit, the Swiss National Bank (SNB) implemented an ultra-low interest rate policy and in 2011 enforced a ceiling on the franc versus the euro. The rebound in growth has been led primarily by exports, which recovered quickly after the 2009 recession (Panel B), and household consumption. Switzerland’s performance in terms of per capita GDP growth over the past decade has been near the OECD average, as has its labour productivity performance (Panel C).
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