Over the next ten years, the Swiss government wants CHF750 million ($852 million) in its pocket to guarantee the storage of vital goods.
This content was published on
2 minutes
Keystone-SDA
On Monday, the Senate unanimously approved a credit request from the Federal Council for this purpose.
In order to counter serious shortages, the goverenment recommends the stockpiling of certain goods in the food, energy and pharmaceutical sectors. These reserves do not belong to the government.They are held and financed by the private sector.
However, Bern is facilitating the financing of the stocks by providing guarantees on the bank loans required by the companies concerned. The current loan of CHF540 million expires at the end of 2024. A new credit is required for the guarantees granted by Switzerland for the years 2025 to 2034.
According to the government’s calculations, credit requirements between now and the end of 2024 amount to 380 million for petroleum products, 330 million for foodstuffs, 20 million for therapeutic products (such as vaccines), and 10 million each for fertilisers and industrial products. The government is counting on a possible increase in compulsory reserves in the food, energy and therapeutic products sectors, according to Economics Minister Guy Parmelin. The Federal Office for National Economic Supply is assessing the vital goods concerned. This review could lead to the creation of new compulsory reserves by the end of 2034.
The House of Representatives will also have to decide.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
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.
Most Read Swiss Abroad
More
Heard the one about the Swiss company installing laugh detectors?
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
Precious archaeological vases and coins returned to Italian museum
This content was published on
The Italian authorities have recovered over 2,500 precious ancient coins, vases and small sculptures that had been illegally dug up and sold in Switzerland, Eurojust announced on Monday.
PrimeEnergy Cleantech declared bankrupt by Swiss authorities
This content was published on
PrimeEnergy Cleantech has been officially declared bankrupt, the Swiss Official Gazette of Commerce (SOGC) reported on Monday.
This content was published on
The consumption of antibiotics has risen in Switzerland since the Covid-19 pandemic. However, compared to other European countries the Alpine country has one of the lowest levels of antibiotic usage.
Swiss financial watchdog foresees greater uncertainty due to geopolitics
This content was published on
The Swiss financial sector will face greater uncertainty due to the numerous geopolitical conflicts around the world, warns the Swiss Financial Market Supervisory Authority (FINMA).
Swiss museums to mark centenary of death of painter Félix Vallotton
This content was published on
Swiss museums will celebrate the centenary of the death of the artist Félix Vallotton (1865-1925) next year. A major retrospective is planned in Lausanne, his birthplace, in autumn.
Russian mission installs more ‘spy’ antennas in Geneva, Swiss TV report claims
This content was published on
Russian spies are strengthening their presence in Geneva, according to a report by Swiss public television, RTS. Russian officials have placed new satellite dishes on their diplomatic buildings without authorisation.
This content was published on
Switzerland should join NATO, as in the future it cannot rely on its long-standing tradition of neutrality for its defence, John Bolton, Donald Trump's former national security adviser, declared in an interview on Sunday.
This content was published on
A demonstration was held in Geneva on Sunday calling for an immediate end to the war in Ukraine. Around 50 Russians took part in the gathering outside the UN building.
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.