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Swiss expect slower economic growth in 2021 as second COVID-19 wave hits

ZURICH, Dec 15 (Reuters) - Switzerland’s economy is expected to shrink by 3.3% this year before recovering in 2021, the government said on Tuesday, adding the second wave of the coronavirus will slow the rebound next year.

The 2020 forecast is an improvement from the 3.8% decline predicted by the State Secretariat for Economic Affairs (SECO) in October, although it would still be the worst downturn the country has seen since 1975.

SECO said it expects the Swiss economy to grow by 3% in 2021, slower than the 3.8% rate previously forecast. (Reporting by John Revill; editing by Brenna Hughes Neghaiwi)

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