The Swiss Times - Swiss News in English

Kanton Geneva Expects Smaller Deficit in 2024 than in Previous Years

The Geneva Cantonal Government has proposed a budget for 2024 with a deficit of 256 million Swiss francs, significantly lower than the deficits of over 400 million francs in the three preceding years. This budget is the first to comply with the debt brake since the onset of the coronavirus pandemic. The debt brake sets the maximum allowable deficit at 279 million francs. The improved financial situation of the canton is mainly due to the predicted strong growth in tax revenues, which are expected to increase by 7.2% or 507 million francs to 8.523 billion francs compared to the 2023 budget. Total revenues are estimated to increase by 6.3% or 603 million francs. Expenditures are expected to increase by 3.8% to 10.367 billion francs. The majority of the additional spending is due to an increase in social benefits, an increase in students and staff, and higher personnel costs.nnnnnnnnnnnnnnnnnnnnnnnnnn


Most Read

Sunday, February 11 – Round Up

11 February 2024
ZHdK's turmoil, dormant pension assets, and innovative solutions to the housing crisis. Stay informed with Sunday's top stories.

ETH President Highlights Financial Strain Despite Federal Savings Plan

11 February 2024
ETH President Mesot contradicts the Federal Council's plan to cut CHF 50 million from ETH Zurich, emphasizing the importance of reserves.

Swiss Production Sees Q4 Downturn Despite Sales Uptick

16 February 2024
Swiss production
Swiss production falls in Q4, challenging industry but with a rise in sales, showcasing sector resilience amidst economic complexities.

Temenos: Accounting Irregularities & Failed Products

16 February 2024
Temenos' journey through innovation, financial challenges, and accusations.

Stay in Touch!


Zurich Commercial Court Summarizes Investor Lawsuits Regarding UBS/CS Merger
18 February 2024
Swiss security
Swiss Security Chief: “We Have to be Prepared for War”
18 February 2024