Overview Of Restructuring And Insolvency Activity

I OVERVIEW OF RESTRUCTURING AND INSOLVENCY ACTIVITY

After a stable growth of 2 per cent in GDP in 2014, the economic outlook for Switzerland has deteriorated following the decision of the Swiss National Bank on 15 January 2015 to abolish the minimum exchange rate of 1.20 Swiss francs per euro, and the expected GDP growth at constant prices for 2015 and 2016 has been significantly revised downwards, with growth of 0.8 per cent expected in 2015 and 1.6 per cent in GDP in 2016.²

However, the Swiss federal government's expert group on economic forecasts currently still expects the Swiss economy to adapt to the new exchange rate environment without falling into severe recession, but points out that this assessment implies a robust economic domestic demand and a continuous recovery of the world economy.³