IMF praises Switzerland's handling of the pandemic Federal Department of Finance Bern, 07.04.2021 - According to the International Monetary Fund (IMF), Switzerland has navigated the COVID-19 pandemic well up to now and has been able to limit the decline in economic output. Economic measures should now be geared towards a strong and sustainable recovery. The IMF expects Swiss growth to reach 3.5% in 2021. It sees pension reforms and climate change as long-term challenges. In 2020, the Swiss economy contracted by 2.9%, less than other European advanced economies. According to the IMF, the impact was cushioned by the solid public and household finances, competitive export industries, the large and well-capitalised financial sector, low dependency on contact-intensive sectors, the well-resourced healthcare system and targeted containment measures. The swift emergency measures exceeding 10% of GDP to provide targeted support for households and businesses were also crucial in curbing the economic slowdown.