Press releases

During a visit to Switzerland by Ukrainian Prime Minister Yuliia Svyrydenko, the two countries announced projects involving Swiss companies that will be supported as part of Ukraine's reconstruction. The twelve projects receiving funding are in the areas of infrastructure (energy, housing), public transport, health and humanitarian demining. The Swiss private sector will therefore be able to support Ukraine's reconstruction efforts through its expertise and innovative, high-quality products.

The Ukraine Recovery Conference (URC) has been held since 2022 to coordinate reconstruction efforts in Ukraine. At this year's conference, which took place in Rome from 10 to 11 July, the head of the Swiss delegation, Jacques Gerber, signed an international treaty with Ukraine. This forms the legal basis for increased cooperation with the Swiss private sector in reconstruction. Projects in the areas of health, education and war risk insurance were also approved.

Switzerland will be participating in the 4th International Conference on Financing for Development (FfD4) in Seville, Spain, from 30 June to 3 July 2025. Organised under the auspices of the United Nations, this global event aims to address financing challenges in order to help achieve the 2030 Agenda’s Sustainable Development Goals. The conference will cover a wide range of issues relating to development policy, environmental, economic and social sustainability, and macroeconomics. The Swiss delegation is being led by Patricia Danzi, director general of the Swiss Agency for Development and Cooperation (SDC).

At its meeting on 25 June, the Federal Council approved the draft of a bilateral cooperation agreement between Switzerland and Ukraine on reconstruction of the country. The draft agreement would establish the legal basis for closer involvement of the Swiss private sector in Ukraine's reconstruction process. This agreement will be signed at the 2025 Ukraine Recovery Conference to be held in Rome. Once signed, the Federal Council will initiate a consultation procedure and submit a corresponding dispatch to the Swiss parliament for ratification.

On 23 June, on the sidelines of the EFTA Ministerial Conference in Tromsø, Norway, a free trade agreement was signed by Federal Councillor Guy Parmelin and representatives of fellow EFTA countries Iceland, Liechtenstein and Norway with the Malaysian Minister of Investment, Trade and Industry, Mr Tengku Zafrul Aziz.

On 16 June 2025, the OECD published its latest development cooperation peer review on Switzerland. The peer review takes place as part of a regular review process that the 33 members of the OECD Development Assistance Committee (DAC) undergo every six years. The report recognises the continuous development of Swiss international cooperation and formulates recommendations.

On 21 May, the Federal Council decided to increase the capital of SIFEM AG by CHF 75 million. This will enable the federal development finance institution to stabilise its investment volume at CHF 150 million.

Federal Councillor Guy Parmelin will visit Poland on 14 and 15 May. During his visit he will sign a memorandum of understanding to strengthen cooperation in education, research and innovation (ERI). Bilateral ministerial meetings are also planned, focusing on ERI and business. The programme will conclude with a visit to the renowned Impact'25 innovation fair.

The Federal Council wants to contribute towards increasing the guarantee capital of the African Development Bank (AfDB). It is requesting Parliament to approve a guarantee credit of CHF 1.56 billion, as decided on 30 April. This would strengthen Switzerland's influence in the AfDB and help to further sustainable and inclusive economic development in Africa.

On 16 September, Federal Councillor Guy Parmelin, together with ministers from 13 other countries, launched the Future of Investment and Trade Partnership. The initiative brings together small and medium-sized countries seeking to develop their economies through open, rules-based global trade. For Switzerland, it represents another platform to strengthen and diversify its trade relations.

In August 2025 the consumer sentiment index stood at –40 points. This is 5 points lower than in August 2024. The following sub-index is lower than in August 2024: economic outlook. The following sub-indices are higher than a year ago: past financial situation, financial outlook and moment to make major purchases.

The free trade agreement between the states of the European Free Trade Association (EFTA) and the Republic of India will enter into force on 1 October. On 3 September, the Federal Council adopted the necessary amendments to the ordinances to implement the tariff concessions specified in the agreement.

During a visit to Switzerland by Ukrainian Prime Minister Yuliia Svyrydenko, the two countries announced projects involving Swiss companies that will be supported as part of Ukraine's reconstruction. The twelve projects receiving funding are in the areas of infrastructure (energy, housing), public transport, health and humanitarian demining. The Swiss private sector will therefore be able to support Ukraine's reconstruction efforts through its expertise and innovative, high-quality products.

In the second quarter of 2025, Switzerland's GDP adjusted for sporting events increased by 0.1%, following growth of 0.7% in the first quarter[1],[2]. After the above-average growth seen in the previous quarter, the anticipated correction has now occurred. Industrial value added and exports declined sharply, whereas the services sector delivered broad-based growth. An updated economic scenario from SECO shows that, as a result of higher US import tariffs, the Swiss economy is likely to grow more slowly than previously expected, particularly in 2026.

The UN sanctions committee has amended the list of sanctioned individuals, companies and organizations. The SESAM database has been updated accordingly.

On 4 March 2016 the Federal Council has adopted the Ordinance on the automatic application of the UN Security Council’s sanctions lists. Hence, the amendments of the UN Security Council’s sanctions lists enter into force in Switzerland without delay.

On 18 August 2025 the Federal Department of Economic Affairs EAER has amended annex 2 of the ordinance imposing measures against the Republic of South Sudan. One entry has been modified. The measures come into force on 20 August 2025.

On 18 August 2025, the Federal Department of Economic Affairs, Education and Research has amended annex 2 of the ordinance on measures against Sudan. Two individuals and two entities have been added to the sanctions list. The measures come into force on 20 August 2025.

On 18 August 2025, the Federal Department of Economic Affairs, Education and Research EAER has amended the annexes 3 and 5 of the ordinance on measures against Libya. The entries concerning one individual have been deleted. The measures come into force on 20 August 2025.

On 18 August 2025 the Federal Department of Economic Affairs EAER has amended annexes 6 and 6a of the ordinance on measures against the Islamic Republic of Iran. The entries of 17 individuals and 31 entities have been modified and the entry of one individual has been deleted. The measures come into force on 20 August 2025.

According to the early estimate of Switzerland's quarterly real GDP around 45 days after the end of the quarter ('GDP flash'), Swiss economic output is estimated to have increased by 0.1% in the second quarter of 2025.[1] The negative performance in industry has been counterbalanced by gains in the services sector. 

Notes
The flash estimate is based on early information available on the production components of GDP. Estimates are used where values are not yet available. The result may therefore change after the complete and updated source data become available. Further information on the early estimate is available at www.seco.admin.ch/flash-gdp.
The regular release of quarterly GDP figures, including details on production, expenditure and income as well as updated calculations for the previous quarters, will be published on 28 August 2025.
In line with international practice, a comprehensive benchmark revision of the national accounts is being conducted in 2025. The revised GDP data from the first quarter of 1980 to the second quarter of 2025 will be published on 29 September 2025.
[1]Adjusted for seasonal/calendar effects and sporting events.

The UN sanctions committee has amended the list of sanctioned individuals, companies and organizations. The SESAM database has been updated accordingly.

On 4 March 2016 the Federal Council has adopted the Ordinance on the automatic application of the UN Security Council’s sanctions lists. Hence, the amendments of the UN Security Council’s sanctions lists enter into force in Switzerland without delay.

The Federal Council is strengthening measures to protect humanitarian activities in numerous sanctions ordinances. Among other things, it is introducing humanitarian exemptions in line with UN sanctions. At the same time, it has standardised and clarified various financial regulations. The amendments will enter into force on 15 September.

On 12 August, the Federal Department of Economic Affairs, Education and Research (EAER), which oversees Switzerland’s sanctions, extended sanctions lists relating to Russia. In doing so, Switzerland has adopted a series of amendments introduced by the EU as part of its 18th package of sanctions. These measures take effect on 12 August.

In July 2025 the consumer sentiment index stood at –33 points. This is practically the same as in July 2024. The following sub-indices were higher than in July 2024: past financial situation, financial outlook and moment to make major purchases. The following sub-index is lower than a year ago: economic outlook.

On 7 August, the Federal Council acknowledged that additional tariffs of 39% are now being applied to Swiss products entering the United States. It remains firmly committed to pursuing discussions with the US with the aim of reducing these tariffs as swiftly as possible. The Federal Council is maintaining close contact with US authorities and the affected industry sectors. It will also shortly engage in detailed discussions on potential relief measures for Swiss businesses and continue to assess the need for further economic policy action.

The President of the Swiss Confederation, Karin Keller-Sutter, and the Vice President of the Federal Council, Guy Parmelin, are to fly to the United States on Tuesday, 5 August 2025, to facilitate meetings with the US authorities at short notice and hold talks with a view to improving the tariff situation for Switzerland.

Following the United States’ announcement of a higher 39% tariff on Swiss imports, the Federal Council decided on 4 August to continue negotiations. It remains in close contact with the affected sectors of the Swiss economy and with US officials. Switzerland is committed to securing fair treatment compared with its key competitors to safeguard favourable conditions for its economy.

The Ukraine Recovery Conference (URC) has been held since 2022 to coordinate reconstruction efforts in Ukraine. At this year's conference, which took place in Rome from 10 to 11 July, the head of the Swiss delegation, Jacques Gerber, signed an international treaty with Ukraine. This forms the legal basis for increased cooperation with the Swiss private sector in reconstruction. Projects in the areas of health, education and war risk insurance were also approved.

In June 2025 the consumer sentiment index stood at –32 points. This is 4 points higher than in June 2024. The following sub-indices were higher than in June 2024: past financial situation, financial outlook and moment to make major purchases. The following sub-index is lower than a year ago: economic outlook.

The UN sanctions committee has amended the list of sanctioned individuals, companies and organizations. The SESAM database has been updated accordingly.

On 4 March 2016 the Federal Council has adopted the Ordinance on the automatic application of the UN Security Council’s sanctions lists. Hence, the amendments of the UN Security Council’s sanctions lists enter into force in Switzerland without delay.

The security situation around Switzerland is deteriorating year by year. A global confrontation is emerging, with the USA on one side and China and Russia on the other. This has direct implications for Switzerland: the threat of espionage is high and proliferation activities are increasing. The terrorist threat remains elevated. Particularly concerning is the growing online radicalization of youth. In its new situation report “Switzerland's Security 2025,” the Federal Intelligence Service (FIS) assesses the threat landscape facing the country.

Switzerland will be participating in the 4th International Conference on Financing for Development (FfD4) in Seville, Spain, from 30 June to 3 July 2025. Organised under the auspices of the United Nations, this global event aims to address financing challenges in order to help achieve the 2030 Agenda’s Sustainable Development Goals. The conference will cover a wide range of issues relating to development policy, environmental, economic and social sustainability, and macroeconomics. The Swiss delegation is being led by Patricia Danzi, director general of the Swiss Agency for Development and Cooperation (SDC).

On behalf of Federal Councillor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research (EAER), Martina Hirayama, State Secretary for Education, Research and Innovation (SERI) will travel to Sydney and Melbourne (Australia) and Auckland (New Zealand) from 30 June to 8 July. The aim of the trip is to reinforce and broaden bilateral ties in the domains of education, research, innovation and economic affairs. She will be accompanied by a high-ranking delegation from the scientific and business community.

On 24 June 2025 the Federal Department of Economic Affairs, Education and Research EAER has amended the annex of the Ordinance instituting measures in relation to the situation in Guatemala. The entries for five individuals have been modified and three individuals and one entity has been added to the annex. The measures come into force on 26 June 2025.

At its meeting on 25 June, the Federal Council approved the draft of a bilateral cooperation agreement between Switzerland and Ukraine on reconstruction of the country. The draft agreement would establish the legal basis for closer involvement of the Swiss private sector in Ukraine's reconstruction process. This agreement will be signed at the 2025 Ukraine Recovery Conference to be held in Rome. Once signed, the Federal Council will initiate a consultation procedure and submit a corresponding dispatch to the Swiss parliament for ratification.

On 25 June, the Federal Council adopted its dispatch on the free trade agreement signed by EFTA and Thailand. This agreement will enhance competitiveness and brings greater legal certainty for Swiss companies on the Thai market.

On 23 June, Federal Councillor Guy Parmelin attended the Ministerial Conference of the European Free Trade Association (EFTA) in Norway. In addition to signature of the free trade agreement with Malaysia, a key item on the agenda was the free trade policy outlook for EFTA member states within the current trade policy environment.

On 23 June, on the sidelines of the EFTA Ministerial Conference in Tromsø, Norway, a free trade agreement was signed by Federal Councillor Guy Parmelin and representatives of fellow EFTA countries Iceland, Liechtenstein and Norway with the Malaysian Minister of Investment, Trade and Industry, Mr Tengku Zafrul Aziz.

On 20 June, the Federal Council decided to lift economic sanctions against Syria. Switzerland is thereby aligning itself with the EU's decision of 27 May. The decision will take effect at 6pm on the same day.

The UN sanctions committee has amended the list of sanctioned individuals, companies and organizations. The SESAM database has been updated accordingly.

On 4 March 2016 the Federal Council has adopted the Ordinance on the automatic application of the UN Security Council’s sanctions lists. Hence, the amendments of the UN Security Council’s sanctions lists enter into force in Switzerland without delay.

On 16 June 2025, the OECD published its latest development cooperation peer review on Switzerland. The peer review takes place as part of a regular review process that the 33 members of the OECD Development Assistance Committee (DAC) undergo every six years. The report recognises the continuous development of Swiss international cooperation and formulates recommendations.

The Federal Government Expert Group on Business Cycles has revised down its forecast for Swiss economic growth. GDP adjusted for sporting events is expected to grow by 1.3% in 2025, followed by 1.2% in 2026 (March forecasts: 1.4% and 1.6% respectively)1. This would mean the Swiss economy growing at a significantly below-average rate in both years. The forecast assumes no further escalation of the international trade conflict. Given the high level of uncertainty, SECO has formulated two supplementary scenarios to the expert group's forecast.

At its meeting on 13 June 2025, the Federal Council approved the agreements in the new package to stabilise and develop Switzerland's bilateral approach with the EU and opened the domestic consultation process. After Switzerland brought the negotiations with the EU to a successful close in December 2024, the Federal Council finalised the implementing legislation and accompanying measures. Previously unresolved issues concerning wage protection, immigration, electricity and the type of referendum to be held have since been settled and presented to the public over the last five months. The consultation process will last until 31 October 2025. With this package, the Federal Council is aiming for customised sectoral participation in the EU single market as well as cooperation in selected areas. Given the current global unrest, maintaining good relations with neighbouring countries is key.

The UN sanctions committee has amended the list of sanctioned individuals, companies and organizations. The SESAM database has been updated accordingly.

In May 2025 the consumer sentiment index stood at –37 points. This is 1.5 points higher than in May 2024. The following sub-indices were higher than in May 2024: past financial situation, financial outlook and moment to make major purchases. The following sub-index is lower than a year ago: economic outlook.

On 2 June 2025 the Federal Department of Economic Affairs EAER has amended annexes 1, 2, 8, 29 and 33 of the ordinance. 17 persons and 58 organizations were added to annex 8. In addition, 189 ships were added to annex 33 and 31 companies to annex 2. Furthermore, additional goods were added to annex 1 and the existing exemption in annex 29 was extended until June 28, 2026. The measures come into force on 3 June 2025 at 23:00.

In the first quarter of 2025, Switzerland's GDP adjusted for sporting events grew by 0.8%, following 0.6% in the fourth quarter of 2024[1],[2].The services sector delivered broad-based growth. Domestic demand developed positively. Meanwhile, the chemical and pharmaceutical industry expanded at an above-average rate.

On 21 May, the Federal Council decided to increase the capital of SIFEM AG by CHF 75 million. This will enable the federal development finance institution to stabilise its investment volume at CHF 150 million.

On 15 May 2025, the Federal Department of Economic Affairs (EAER) has updated the document ‘Interpretative aid for sanction measures’. The modifications are visible in track changes mode.

According to the early estimate of Switzerland's quarterly real GDP around 45 days after the end of the quarter ('GDP flash'), Swiss economic output is estimated to have increased by 0.7% in the first quarter of 2025 (Adjusted for seasonal/calendar effects and sporting events). This growth was driven significantly by the services sector, with industry also showing overall expansion. 

Notes: The flash estimate is based on early information available on the production components of GDP. Estimates are used where values are not yet available. The result may therefore change after the complete and updated source data become available. The regular release of quarterly GDP figures, including details on production, expenditure and income as well as updated calculations for the previous quarters, will be published on 2 June 2025.

On 12 May 2025 the Federal Department of Economic Affairs, Education and Research EAER has amended annex 1 of the ordinance on measures against Myanmar. The entries concerning 14 individuals have been modified. The measures come into force on 14 May 2025.

Federal Councillor Guy Parmelin will visit Poland on 14 and 15 May. During his visit he will sign a memorandum of understanding to strengthen cooperation in education, research and innovation (ERI). Bilateral ministerial meetings are also planned, focusing on ERI and business. The programme will conclude with a visit to the renowned Impact'25 innovation fair.

In April 2025 the consumer sentiment index stood at –42 points. This is 4 points lower than in April 2024. The following sub-index is lower than in April 2024: economic outlook. The following sub-indices are higher than a year ago: past financial situation, financial outlook and moment to make major purchases.

The Federal Council wants to contribute towards increasing the guarantee capital of the African Development Bank (AfDB). It is requesting Parliament to approve a guarantee credit of CHF 1.56 billion, as decided on 30 April. This would strengthen Switzerland's influence in the AfDB and help to further sustainable and inclusive economic development in Africa.

On 22 April 2025 the Federal Department of Economic Affairs EAER has amended annex 7 of the ordinance on measures against the Islamic Republic of Iran. The entries of ten individuals have been modified and the entry of one individual has been deleted. The measures come into force on 24 April 2025.

On 17 December 2025 the Federal Department of Economic Affairs EAER has amended annexes 8 and 25 of the Ordinance on Measures Connected with the Situation in Ukraine. Eight organizations have been added to Annex 25 and the existing entries concerning 158 individuals and organizations in Annex 8 have been updated. The measures come into force on 23 April 2025.

Federal Councillor Guy Parmelin will travel to Slovenia on 11 April for a one-day bilateral visit. The programme includes talks with the prime minister and the minister for economic affairs, visits to Swiss companies and discussions with the business community. Mr Parmelin will also sign the bilateral implementation agreement relating to Switzerland's second contribution to Slovenia.

On 8 April, the EFTA States and Ukraine signed a modernised free trade agreement (FTA) in Kyiv. Switzerland is thereby continuing its successful free trade policy and strengthening the competitiveness of its economy. By signing this agreement, Switzerland is strengthening its partnership and demonstrating its solidarity with the country at this critical time. The Federal Council approved the agreement on 2 April.

The fourth International Cooperation Forum (IC Forum), which focused economic development, ended today at ETH Zurich. Participants including federal councillors Guy Parmelin and Ignazio Cassis discussed the importance of local initiatives and cooperation between the private and public sectors. The IC Award was also presented to three Swiss companies for their innovations in the field of development cooperation. Over 1,500 people took part in the forum, both in person and online.

The 2025–28 country programme marks the start of a twelve-year federal support process for reconstruction, reform and sustainable development in Ukraine. At its meeting on 12 February, the Federal Council defined the priorities of the country programme, namely protection of the civilian population, peace, economic recovery and strengthening institutions. CHF 1.5 billion from the international cooperation budget has been earmarked up to 2028. Ambassador Jacques Gerber, the Federal Council's delegate for Ukraine, is responsible for implementing the country programme.

At its meeting on 29 January, the Federal Council approved the negotiating mandate for an international treaty between Switzerland and Ukraine. In the process of rebuilding Ukraine, this will provide a legal basis for increased cooperation with the Swiss private sector.

On 23 January, at the World Economic Forum Annual Meeting in Davos, Switzerland and Ukraine signed a Memorandum of Understanding (MoU) aimed at expanding the role of Swiss businesses operating in Ukraine in the country's recovery. The MoU was signed by Federal Councillor Guy Parmelin and First Vice Prime Minister of Ukraine Yulia Svyrydenko.

Due to the intensified Russian attacks, large parts of the Ukrainian population are suffering from cuts to power and heating. Switzerland is helping Ukraine to cope with the challenges of winter with almost CHF 45 million. The funds will be used to restore energy infrastructure, renovate damaged homes and meet urgent humanitarian needs.

On 6 December, the Federal Council approved the strategic objectives of SIFEM AG for 2025–2028. Its current strategy has proven effective in times of political and economic uncertainty: SIFEM should continue to finance private companies in developing countries and emerging markets and help mobilise additional capital from the private sector.

Federal Councillors Karin Keller-Sutter and Guy Parmelin, accompanied by Martin Schlegel, Chairman of the Governing Board of the Swiss National Bank, will attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington from 23 to 25 October 2024. A meeting of G20 finance ministers and central bank governors will also take place during the Annual Meetings. The Swiss delegation will additionally use the event for bilateral talks.