Switzerland remains remarkably stable in the fateful year 2020. State aid measures play a decisive role in this.
Posted today at 5:52 pm—
The restaurants in the city of Lucerne on Friday, March 20, 2020 are temporarily closed during the coronavirus pandemic. (KEYSTONE / Urs Flueeler)
KEYSTONE
It is still unclear how the corona crisis will be reflected in the Swiss corporate landscape. So far, government aid measures such as the Covid loan program have been dampening the consequences.
The country’s largest mortgage lender, the Raiffeisen banking group, expects a default of a maximum of one fifth of Covid loans. “For Switzerland as a whole, that would be 3.6 billion francs,” says Urs Gauch, Head of Corporate Clients at Raiffeisen Switzerland. “In relation to Swiss economic output and other countries, this is at the lower end,” explains Gauch. In addition, this is the worst-case scenario: Gauch expects that the majority of the loans will be repaid.
