Swiss to Wind Down Aid for Crisis-Hit Firms on Recovery

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Switzerland dropped further restrictions on businesses and will phase out grants for those forced to close due to the pandemic as the economic recovery gains pace.

The government decided to go ahead with its proposal to allow indoor dining at restaurants and larger events from May 31 amid a decline in coronavirus infections. The economy ministry has also been asked to draw up a strategy based on three pillars to help companies in the coming months.

Swiss Press Ahead With Reopening as Covid Cases Drop

“As in all sectors normality returns bit by bit, tried and true instruments should be used again,” the government in Bern said in a statement on Wednesday.

Experts advising the government expect an acceleration in economic momentum, according to the statement. That optimistic take was also evident in the Credit Suisse CFA Society Switzerland indicator, with analysts describing the country’s economic situation as “good” for the first time in 14 months.

The three pillars of the strategy under consideration are:

  • Crisis support will be phased out slowly, with job furlough programs available into 2022
  • Facilitating structural change with various support programs
  • Economic revitalization through initiatives such as promoting digitization

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