Swiss public accounts better than expected in 2017
Finance Minister Ueli Maurer says the surplus could not have been predicted.
Keystone
Swiss government accounts closed with a surplus of CHF2.8 billion ($3 billion) for 2017, compared with a forecast deficit of CHF250 million, Finance Minister Ueli Maurer said at a press conference in Bern on Wednesday. This was due mainly to higher-than-estimated tax revenues.
The surplus would have been even higher, at CHF4.8 billion, had it not been for an accounting provision of CHF2 billion.
The real surplus of CHF2.8 billion is due mainly to receipts from tax advances, which were nearly a third higher than expected at CHF8.83 billion. The windfall could not have been predicted, the government says.
External Content
Total revenue was up 5.4% on 2016 at CHF71.09 billion, while expenditure rose 2% to CHF68.3 billion. This was down 0.6% on the overall forecast. However, the drop in expenditure was bigger in the areas of social security (-CHF333 million), transport (-CHF155 million), as well as training and research (-CHF111 million).
Extraordinary income of CHF177 million was also generated. The Competition Commission collected fines of CHF99 million, and CHF78 million was also collected as part of Swissair’s liquidation settlement.
At its meeting today, the Federal Council also set out the 2019-2021 financial plan, which predicts surpluses of just over one billion for both 2019 and 2020 and 1.9 billion for 2021.
Popular Stories
More
Climate adaptation
Why Switzerland is among the ten fastest-warming countries in the world
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Rhine could warm by up to 4°C by 2100, scientists warn
This content was published on
The water temperature of the Rhine River could rise by up to 4.2° degrees Celsius by the end of the century due to the warming planet, scientists warn.
This content was published on
The Federal Council wants to explore the possibilities of joining the European Union’s €800-billion rearmament programme without compromising Swiss neutrality.
Defence Minister Pfister stresses importance of Swiss mission in Balkans
This content was published on
During a visit to the Balkans region last week, Swiss Defence Minister Martin Pfister met Swisscoy peacekeeping troops in Kosovo.
Premiere for Swiss Air Force on French National Day
This content was published on
On July 14, the Swiss Air Force will take part in the traditional air parade in Paris to mark the French bank holidays with an F/A-18 fighter jet. This is a first for Switzerland.
Swiss launch competition for memorial to Nazi victims
This content was published on
The victims of Nazi Germany are to be commemorated on the Casinoterrasse in Bern. A competition will be held to determine what the site will look like.
This content was published on
The cantonal police of Graubünden in eastern Switzerland have arrested and convicted five cocaine dealers in Chur within a week.
This content was published on
The Swiss business umbrella organisation Economiesuisse and the employers' association broadly support the package of agreements negotiated with the European Union.
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
Federal taxes: billions of francs and muted opposition
This content was published on
Swiss voters will have the final say in March on the government’s right to tax its citizens and companies, including value added tax (VAT).
National conference divided on how to halt rising healthcare costs
This content was published on
The fifth Swiss national health conference on Monday centred on one major bugbear: costs. Attendees were divided on how to halt the rise.
This content was published on
“Switzerland is heading towards bankruptcy,” declared the weekly magazine Facts in 1997 after a series of deficits in the state coffers running into the billions. The magazine folded a few years later, while the Swiss public accounts are today in good shape. Actually they are in excellent shape. Along with Norway – where income from…
This content was published on
Swiss voters approved a so-called ‘debt brake’ on federal public finances in 2001, which was put into operation in 2003. A decade later, the mountain of government debt – that soared to dangerous levels during the 1990s and early 2000s – has been reduced by CHF20 billion ($23 billion) from its 2005 peak. The ratio…
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.