Glarus budgets a deficit of 5.3 million for 2025
Published: Thursday, Oct 3rd 2024, 17:40
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On Thursday, the Glarus cantonal government approved a budget with a deficit of CHF 5.3 million for 2025. Expenditure of 445.9 million francs is offset by income of 440.6 million francs.
The government announced on Thursday that the continued sharp rise in healthcare and social costs in particular would have a negative impact. On the other hand, there will be improvements in tax revenue. In addition, a relief package also presented on Thursday should improve the cantonal budget by CHF 7.6 million.
Net investments amounted to CHF 41.5 million, CHF 4 million less than in the previous budget. The self-financing ratio is an extraordinarily low minus 4.2 percent.
With net assets of CHF 119.9 million at the end of 2023, the financial situation of the canton of Glarus is solid, the government wrote. However, net assets have decreased significantly by CHF 98.4 million or 45% since the peak in 2019. The 2023 annual financial statements also reported a loss for the first time in 20 years.
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