The total debt burden caused by the pandemic is expected to amount to CHF25-30 billion ($26.7-32 billion) by the end of 2022. Most of it (CHF20.3 billion) was due to extraordinary spending in 2020.
The so-called debt-brake rule requires the government to make up the shortfall in six years. The government proposes to extend this period to the next three legislative periods, i.e. until 2035. In the event of special circumstances, the deadline may be further extended by four years.
The government is counting on the Swiss National Bank (SNB) to loosen its purse strings and stump up CHF1.3 billion a year. In addition, it intends to tap into unused budgets and financing surpluses of an average of CHF1 billion a year. So far, no budgetary relief programme or tax increases are planned.
The government submitted its strategy to parliament on Friday. The goal is to have the amendment on debt repayment come into force by 2023.
Swiss authorities announce cost-cutting in asylum sector
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The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
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The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
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In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
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As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
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After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
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A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
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The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
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Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
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Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
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Pandemic costs CHF11 billion in temporary unemployment payments
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Covid-19 cost Switzerland CHF11 billion in short-time working payments last year, with around 20% of the money helping to prop up the gastronomy sector.
Hotels and restaurants complain of lost profits due to Covid certificate
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Swiss hotels and restaurants have seen turnover drop by an average of 27.6% since the introduction of the Covid certificate, they say.
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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.