The federal budget is expected to end the year SFr400 million ($370 million) in the black, according to revised projections released by the Swiss finance ministry.
This content was published on
1 minute
This is significantly lower than the SFr948 million surplus calculated in the 2009 budget, which was approved by parliament in December.
Although the public accounts will be less healthy than expected, the picture could be worse considering the global economic crisis.
While the tax take for 2009 is now expected to shrink by SFr1.4 billion, non-fiscal receipts are predicted to exceed estimates by SFr100 million.
However, the finance ministry warned that the scenario for this year could not be repeated in the coming years.
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
Financial failures infect world stock markets
This content was published on
The Swiss Market Index (SMI) rallied at the end of Monday to close down nearly four per cent. Shares in Switzerland’s largest bank, UBS, dropped 15 per cent while Credit Suisse and other banks also dived. Stock markets around the world sank into the red as panic set in about the bankruptcy of US investment…
This content was published on
Swiss engineering firm Sulzer announced 1,400 global redundancies on Wednesday while chemicals maker Clariant confirmed 500 job losses at the weekend. Other manufacturers, the watch and finance industries are also laying off workers. The run of bad news appears to confirm the expectation of economists that some 5.5 per cent of the workforce will be…
This content was published on
The cabinet on Wednesday called on parliament to approve three-fold measures worth SFr750 million ($688 million) that aim to meet the challenges of rising unemployment and higher health insurance premiums. A first stimulus package of SFr1.5 billion was announced in November last year, and a second of more than SFr700 million followed in March. “The…
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.