Contents -- I. INTRODUCTION: SUSTAINING AND ADVANCING RECENT GAINS -- II. A FAVORABLE ECONOMIC BACKDROP TO THE NEW PROGRAM -- III. THE AUTHORITIES' THREE-YEAR PROGRAM -- IV. PROGRAM MODALITIES -- V. STAFF APPRAISAL -- APPENDIX I -- APPENDIX II -- APPENDIX III -- ATTACHMENT

This 2018 Article IV Consultation highlights that the Swiss economy has adjusted to the large cumulative exchange rate appreciation that took place since the global financial crisis. After a subdued start to 2017, GDP growth accelerated to 1.1 percent in 2017, and the positive momentum continued...