Higher-than-expected tax revenues have enabled the finance ministry to report a budget surplus of SFr2.8 billion ($3.02 billion) for 2010.
This content was published on
1 minute
swissinfo.ch and agencies
The ministry attributed the surplus to the more rapid economic recovery and only moderate growth in expenditure.
But although revenues are expected to climb from SFr62.83 billion to SFr63.72 billion in 2011, the budget is predicted to slide into deficit in this year.
The ministry said an extraordinary contribution to the federal railways pension fund would contribute heavily to an estimated SFr566 million deficit in 2011, which it has down from a previous estimation of SFr600 million.
Weaker gross domestic product growth, higher spending and structural revenue losses will impact the bottom line in years to come with consecutive deficits expected through to 2014, the ministry said.
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
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.
Read more
More
Rolle wrestles with impact of recent growth
This content was published on
swissinfo.ch visited Rolle to find out how the influx of international firms has transformed the local community, which nestles between the lake and rolling vineyards in western Switzerland. From the motorway you cannot miss the row of shiny new buildings belonging to Chiquita, Nissan, Yahoo! and other big-name firms that have set up shop at…
This content was published on
However, the plan to supplement 2011-12 funding of the national marketing office by SFr24 million ($25 million), or around 14 per cent, is at odds with the government’s proposal to cut SFr5 million a year from Switzerland Tourism’s 2012-2015 budget. The Swiss Tourism Federation (STV) – the umbrella organisation representing the industry’s interests – has welcomed…
This content was published on
Despite the global economic downturn, remittances to developing countries remain a resilient source of external financing. A World Bank study ranked Switzerland behind the United States and Saudi Arabia as the third largest country in 2009 for transfer payments; foreign workers in Switzerland – including those who cross the border each day – transferred $19.6…
This content was published on
There are those who steal the limelight while others work behind the scenes at the 2011 annual meeting of the World Economic Forum.
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.