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
More
More
Swiss economy tipped to remain stagnant next year
This content was published on
A government expert group concluded that economic growth would rise only 0.9% this year, 1.7% in 2020 and 1.2% in 2021. However, much of the expected growth next year will be generated by one-off sporting events, including the Summer Olympics in Tokyo. In its quarterly forecast, the group predicted a slow-down in construction activity and…
Swiss health office turns to Bluesky against backdrop of US censorship
This content was published on
The Swiss Federal Office of Public Health (FOPH) has joined the Bluesky social network, while US President Donald Trump works with X owner Elon Musk to censor content on official US websites.
Biotech company BioVersys is first Swiss IPO of 2025
This content was published on
The Basel-based biotech company BioVersys made the first initial public offering (IPO) of the year in Switzerland on Friday.
Much more spent on Swiss motorway vote campaigns than budgeted
This content was published on
Opponents and supporters of motorway expansion spent over CHF10 million ($11 million) on their campaigns, around a third more than announced in November.
Swiss researchers monitor animal populations with AI microphone
This content was published on
Researchers in Lausanne are using an intelligent microphone to make the animal world audible. The microphone automatically records animal sounds over large areas and analyses them using AI.
Three employees of Swiss aid organisation killed in DRC
This content was published on
Three employees of the Swiss Protestant Reformed Church (Heks) have been killed in an attack in the Democratic Republic of Congo (DRC). They were on a humanitarian mission in the crisis region.
This content was published on
All our waters today are pure at source," Muriel Lienau, general manager of Nestlé Waters, told AFP after press revelations.
Switzerland concerned about impact of US withdrawal from WHO
This content was published on
Switzerland has expressed concern about the loss of American experts and the freezing of contracts due to the announced withdrawal of the US from the World Health Organization (WHO).
Rhine Falls is most rated Swiss location on Google Maps
This content was published on
The Rhine Falls in Schaffhausen, northern Switzerland, with more than 75,000 ratings, is the Swiss place most reviewed by Google Maps users.
This content was published on
The State Secretariat for Economic Affairs (SECO) says that Switzerland is currently experiencing an “increasingly broad-based upswing”.
Swiss government predicts moderate economic growth in 2019
This content was published on
The State Secretariat for Economic Affairs (SECO) is expecting the Swiss economy to grow moderately by +1.2% in 2019, it said on Thursday.
Switzerland’s growth hampered by trade tensions, economic slowdown
This content was published on
The Organisation for Economic Co-operation and Development (OECD) has revised its growth forecasts downwards for Switzerland. It also recommended Switzerland raise its retirement age. Swiss GDP is expected to grow by 0.8% this year and by 1.4% in 2020, according to an OECD report published on Monday. Previously, Swiss economic growth had been projected at…
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.