OECD gives Switzerland's economic policy positive write-up 

Switzerland's economy is well on track, as confirmed by the Organisation for Economic Co-operation and Development (OECD) in its country report. However, the organisation did recommend the country further open up foreign policy and expand trade relations to become more resilient. To increase Switzerland’s economic resilience and productivity, the OECD recommended in its new report that domestic competition be strengthened and the administrative burden on companies be reduced. The organisation advised against costly industrial policy initiatives such as state subsidies or protectionist measures, according to a statement from the State Secretariat for Economic Affairs (Seco) responding to the OECD report on Thursday. +Swiss growth forecasts lowered for 2024-25 Seco said that the OECD's recommendations were in line with the country’s direction and that the unilateral abolition of industrial tariffs at the beginning of this year was an important step towards reducing trade barriers.