Expo.02 short of cash
Switzerland's planned national exhibition, Expo.02, is facing new financial difficulties because of a lack of sponsors.
Expo.02 spokeswoman, Marina Villa, said up to SFr110 million ($66.6 million) had failed to materialise. As a result, the government is considering a new SFr120 million cash injection next year.
Villa blamed the lack of sponsor enthusiasm on the September 11 terrorist attacks in the United States. However, Expo.02 was beset by several financial problems prior to the attacks, which resulted in the exhibition being postponed for one year.
The chairman of Expo.02, Franz Steinegger, remained optimistic, despite the difficulties. “If attendance is high, we should be able to compensate the loss in earnings for Expo.02.”
Expo.02 begins in May and has a budget of SFr1.4 billion.
The plea for additional public funding comes amid concerns that the state’s deficit may reach SFr2 billion ($1.2 billion) this year, according to the finance minister, Kaspar Villiger.
The deficit is due mainly to the government’s SFr1.2 billion financial contribution toward establishing a new national airline, after the collapse of Swissair.
The sum is expected to increase by SFr800 million in 2002, bringing the estimated deficit for next year to SFr500 million.
swissinfo with agencies
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.