According to the International Monetary Fund (IMF) the Austrian economy was hit rather hard by the pandemic. Its real gross domestic product (GDP) declined by 6.3% in 2020. Job losses remained manageable, however, which was said to be partially due to the introduction of shorter working hours too. The IMF as-sumes that the economy will recover in the course of 2021. There is still some danger that the pandemic will leave some marks in the medium term, however.Economic and financial policies in Switzer-land seem to be doing a little bit better. Ac-cording to the IMF the country has done rather well so far in coping with the pan-demic; it's been able to keep the economic slide in check. In 2020 its GDP declined by 3%, which was less than most other Euro-pean national economies, apart from Swe-den's and Norway's.
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