Government boasts (another) surplus year

Last year the budget surplus was CHF 2.9 billion. Keystone / Anthony Anex

The government announced on Wednesday that it will end the year with a budget surplus more than double of what was forecasted.

This content was published on February 19, 2020 - 15:12

Estimates throughout 2019 predicted a better than expected outcome for the end-of-year results. The final tally of CHF3.1 billion ($3.1 billion) far exceeds what was budgeted, which was CHF1.2 billion.

The improvement was due in equal measure to higher receiptsExternal link and lower expenditures. Receipts were up 0.9 billion, or 1.2% – largely from withholding tax and direct federal tax. However, Value Added Tax revenues remained below expectations, which the government attributes to the fact that nominal economic growth in 2019 lagged well behind the budget forecast.

The government tends to err on the conservative side when it comes to budget forecasts. Since 2007, only the 2014 financial year ended with a slightly lower result than budgeted. Last year, the budget surplus was CHF 2.9 billion instead of the CHF300 million budgeted. In 2017, the planned shortfall of CHF250 million turned into a surplus of CHF2.8 billion.

External Content

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

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

Sort by

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.