Covid pandemic causes massive state deficit in 2020
The state-run Federal Railways posted a record deficit of more than CHF600 million last year.
Keystone/Martin Ruetschi
The Swiss government has run up a deficit of CHF14.2 billion ($15.4 billion), according to its consolidated financial statement for last year.
This content was published on
1 minute
swissinfo.ch/urs
This negative result is largely due to the impact of the crisis triggered by the Covid-19 pandemic, according to a statement publishedExternal link on Wednesday.
The consolidated statement includes the assets, liabilities, equity, income, expenses and cash flows of the federal administration as well as the state-run companies and social security agencies.
The result for 2020 is down CHF25.4 billion on the previous year.
Last year the federal administration closed with a deficit of CHF16.4 billion, notably because of extra spending to cope with the Covid crisis and lower revenue, the finance ministry said.
Equity dropped by more than CHF11 billion to CHF66.3 billion.
In 2020, there were nearly 161,300 full-time employment posts in the government administration, state-run companies such as the national railways and Post Office, and the old age and disability insurance funds.
Swiss invention: 90-year anniversary of first T-bar ski lift
This content was published on
On Monday it will be 90 years since the world’s first T-bar ski lift went into service in Davos. This Swiss invention was an instant success.
Iran summons Swiss ambassador over US and Italy arrests
This content was published on
Iran has summoned the Swiss ambassador, who represents US interests, to protest against the arrest in the US and Italy of two Iranians.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
This content was published on
The government announced on Wednesday that it will end the year with a budget surplus more than double of what was forecasted.
Who foots the bill for the Swiss coronavirus relief package?
This content was published on
Funds for an unemployment scheme, loans for cash-strapped companies, financial aid for the economy: The costs of Covid-19 pandemic are considerable.
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.