The Swiss Times - Swiss News in English

Federal government lowers budget projection

  • By The Swiss Times
  • 26 October 2023

The federal government is projecting a financing deficit of 1.8 billion francs for the current year. The expected deficit is thus likely to be 300 million francs higher than forecast in the June projection.

Federal government lowers budget projection
Image by Markus Kammermann from Pixabay

Compared with the June forecast, ordinary expenditure is expected to be slightly higher (CHF 80.4 billion instead of CHF 80.1 billion) – mainly because supplementary credits and credit overruns are estimated to be higher, the Federal Department of Finance (FDF) announced on Wednesday. The estimate of ordinary revenues remains unchanged from the June projection.

The 2023 budget had originally forecast a deficit of 4.8 billion francs. The improvement compared with the estimate is due to the fact that the rescue package for the electricity industry is not needed from today’s perspective, for which 4 billion had been budgeted as extraordinary expenses.

©Keystone/SDA

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