An interdepartmental working group is currently examining how Switzerland should co-finance the reconstruction of Ukraine. A fund not covered by the "Debt Brake" - a debt containment mechanism - is out of the question for the Federal Council.
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Швейцария обсуждает финансирование восстановления Украины
Such a fund for reconstruction in Ukraine, which was attacked by Russia two years ago, is under discussion in both houses of parliament. The House of Representativeshas received a motion from its finance committee demanding that the amount made available be recognised as an extraordinary item and thus not be covered by the Debt Brake. In addition, it should not be booked under international cooperation.
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Jury out on Swiss debt brake as global model
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Swiss voters approved a so-called ‘debt brake’ on federal public finances in 2001, which was put into operation in 2003. A decade later, the mountain of government debt – that soared to dangerous levels during the 1990s and early 2000s – has been reduced by CHF20 billion ($23 billion) from its 2005 peak. The ratio…
The Federal Council opposes this demand, as can be seen from its response to the motion published on Thursday. It is currently examining what institutional framework is required to support the long-term reconstruction process, what financing options are available and what level of federal contribution would be appropriate.
However, the Federal Council writes that the conditions for extraordinary financing of reconstruction aid are not in place. “The amount of the Swiss contribution can be controlled, which is why this expenditure is not extraordinary.”
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Explainer: extraordinary Swiss spending meets the Debt Brake
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Switzerland is juggling billions of extraordinary expenses with the constraints of a debt containment mechanism known as the ‘Debt Brake’.
According to the Federal Council, Switzerland has supported the population affected by the war in Ukraine with a total of CHF2.75 billion ($2.75 billion) until December 31, 2023. As part of the next international cooperation strategy 2025-2028, the Federal Council has also earmarked around CHF1.5 billion for Ukraine and the region.
Translated from German by DeepL/amva
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