... reflect a high value-added economy, with income and governance indicators above the respective rating medians, a very strong net external creditor position and the reserve currency status of the Swiss franc. A record of prudent economic and fiscal policymaking supports macroeconomic stability, and government debt is among the lowest of `AAA' rated sovereigns. 2026 Growth Forecast Raised: Fitch Ratings has significantly raised its growth forecast for Switzerland to 2.0% for 2026 from 1.4% at the time of the last review (both figures unadjusted for sporting events). Real GDP growth of 2.8% yoy in 1H26 was much stronger than expected. A key driver behind this was an unusually large contribution from the FIFA World Cup and Winter Olympics, which SECO estimates at around 0.4pp. The effect will be reversed next year and we forecast lower growth of 1.3%. Tariff Volatility: Switzerland's exports have been volatile, mirroring the swings in US tariff...
