The Restructuring Review 2020

I OVERVIEW OF RESTRUCTURING AND INSOLVENCY ACTIVITY

The Swiss federal government's Expert Group expects Switzerland's GDP to fall by 1.5 per cent in 2020, down from previous expectations in December 2019 that predicted a rise of 1.3 per cent, mainly because of covid-19.² The hitherto (up to the outbreak of covid-19) favourable economic environment has had a positive impact on the labour market, with unemployment gradually declining since mid-2016. However, in March 2020, the unemployment rate was at 2.9 per cent, having increased from 2.5 per cent in March 2019. The Expert Group is predicting an average unemployment rate of 2.8 per cent for this year because of the impact of covid-19.³