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Two billion franc boost to the Swiss economy


Two billion franc boost to the Swiss economy


The Swiss government has announced plans to spend the equivalent of more than 1.7bn euros to help soften the impact of the strong franc.

Amid the euro crisis, the Swiss franc is seen by investors as a safe haven currency. That has helped the franc to reach record highs against the euro and US dollar.

Finance Minister Johann Schneider Ammann said the package aims to help companies that have been harmed by the strong franc. They include exporters and tourism related businesses.

He said the government would also support key areas of research and development to help improve the Swiss economy.

The franc has continued to climb against the euro.

Last Wednesday, the Swiss central bank announced the third round of liquidity measures in two weeks to cool demand for the franc. But analysts said they were not convinced the tactics were having an impact.

Last week, officials refused to rule out the possibility of a temporary peg between the franc and the euro.

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