The Swiss Times - Swiss News in English

Uri’s 2023 accounts close with a higher deficit than expected

Higher deficit than expected in Uri: the accounts of the canton of Uri close with a deficit of 20.5 million francs. The government had budgeted a deficit of 12.3 million francs. The lack of profit distribution from the Swiss National Bank (SNB) and lower income from energy purchase rights were the main reasons for the poor overall result.

In a press release issued on Thursday, the cantonal government of Uri expressed its dissatisfaction with the result. He is aware that sustainable measures will have to be developed in the coming years. He is counting on the support of the cantonal council and the municipalities for their implementation.

Expenses in the cantonal accounts amounted to CHF 467.1 million. This is 6.7 million francs or 1.5 percent more than budgeted, according to the statement.

The investment statement shows net investments of CHF 38 million, which is CHF 18.8 million less than planned. The self-financing ratio, i.e. the coverage of net investments, reached -23.3 percent, which is 19.6 percentage points below the budget of -3.7 percent. Net debt rose from CHF 42 million in the previous year to CHF 93.1 million.

Package of measures for the 2024 budget

A package of measures was necessary in the 2024 budget in order to comply with the permitted deficit in accordance with the law on budgetary balance. According to the 2024 to 2027 financial plan, the government states that the challenge of meeting the deficit limit will also be great in subsequent years.

Due to the Swiss National Bank's record loss in 2022 and a further loss in 2023, deliveries by the SNB are rather unlikely in the medium term. The government emphasizes that further measures are necessary to substantially ease the canton's difficult financial situation.

©Keystone/SDA

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