Switzerland’s federal budget has closed with a surplus of SFr.1.9 billion ($2 billion) rather than the predicted deficit of SFr600 million.This content was published on February 15, 2012 - 16:24
However, the extra money will go straight towards extraordinary expenses. For example, the government is contributing to SFr2 billion to Swiss Federal Railways infrastructure, as well as to its pension fund.
With these expenditures taken into account, the surplus will amount to SFr200 million, as the finance authorities announced on Wednesday.
Most of the SFr1.9 billion surplus came from revenue gained via withholding tax. Meanwhile, SFr700 million was not spent as planned. The delayed purchase of new fighter jets was one such example.
The cabinet approved the numbers on Wednesday while approving transfers for 2013 and budget estimates for 2014-2016.
This article was automatically imported from our old content management system. If you see any display errors, please let us know: firstname.lastname@example.org
In compliance with the JTI standards