Swiss Confederation to hit CHF4.3 billion deficit in 2022

On February 16, the Swiss Federal Council pointed out on the 15th local time that the decline in revenue and a large number of special expenditures related to the new crown epidemic have led to a fiscal deficit of 4.3 billion Swiss francs for the Swiss Confederation in 2022.

For the first time since 2005, the Swiss Confederation ended the year with a larger deficit than the business cycle would allow for its regular budget. This structural deficit is approximately 1.6 billion Swiss francs. The Federal Council was informed of the interim results at the meeting that day, and at the same time clarified the 2024 budget adjustment measures and made fundamental decisions on the annual budget adjustment measures for the fiscal plan.