Swiss public finances: surpluses expected for general government sector from 2023 onward

Bern, 13.10.2022 – The Swiss economic recovery from the COVID-19 pandemic clearly continued in early 2022, but it is likely to slow sharply from Q3 onward due to persistent supply bottlenecks, higher inflation and generally tighter monetary policy. A surplus of 1.3 billion is expected for the general government (Confederation, cantons, municipalities and social security funds), with stable general government expenditure and higher general government receipts. Debt is likely to decline from 2023 onward. This is shown in the latest financial statistics figures of the Federal Finance Administration (FFA). However, the forecasts hinge on the impact of international developments and are therefore subject to uncertainty.