The strong Swiss franc and uncertainty over the Greek credit crisis have caused the Swiss government to lower its growth forecast for 2015-16, Swissinfo reported. It says the economy remains vulnerable against exchange rate fluctuations. Growth this year is now expected to occur at a rate of 0.8%, slightly down from the 0.9% forecast in March, the State Secretariat for Economic Affairs said in a statement published on Tuesday. For 2016, the expected growth rate has been lowered to 1.6%, down from 1.8% forecast in March. “The Swiss economy continues to be vulnerable against further fluctuations of the exchange rate,” the government’s experts said, describing the situation this year as a “painful adaptation”.
