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Responding to the coronavirus is likely to have added between CHF 25 and 30 billion to Swiss federal borrowing, a sum that will only be known when the final calculation is made at the end of 2022. Paying this back is expected to take 11 to 13 years. © Marekusz | Dreamstime.comThe federal government said that repaying this money is critical for ensuring the nation is prepared for future crises and for maintaining the financial standing of the nation, something that attracts foreign...

During 2020, 10.3% of Switzerland’s population moved. The average distance moved was 12.5 km. However, the likelihood of movement and the distance moved varied significantly by age and nationality. Photo by cottonbro on Pexels.comPeople in the age band between 20 and 40 were the most likely to move. There was also a small bump in numbers between the ages of 62 and 65. Roughly 27% of 25 year olds moved in 2020, compared to only 2% of 94 year olds. The most mobile canton was Basel-City....

Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have already moved in this...

The high inflation across the world is rippling as far as Switzerland. During the month of February 2022, Swiss prices rose 0.7%. Compared to the same month in 2021, prices were 2.2% higher, making this the highest price increase in two decades. © Radomír Režný | Dreamstime.comThe 0.66% monthly consumer price rise in February represents an annualised rate of 7.9%. Essentially, if the latest monthly rate of inflation were to continue for 12 months it would push consumer prices up by 7.9%....

This week, Switzerland’s Federal Prosecutor requested that Credit Suisse be fined the maximum of CHF 5 million allowed under Swiss law for money laundering related to its dealings with a network of Bulgarian drug traffickers, reported RTS. Swiss Federal Penal Tribunal in BellinzonaThe trial began two and a half weeks ago at the Switzerland’s Federal Penal Tribunal in Bellinzona. Two Bulgarians, one bank employee, one ex-employee and the bank appeared in court. Federal prosecutor Alice...

Switzerland has one of the lowest rates of home ownership. Most residents live in rented accommodation. Across the whole country, only 36.2% of homes were owned by their occupants in 2020, according to data published this week by Switzerland’s Federal Statistical Office (FSO). However, home ownership rates vary significantly depending on the canton. In popular urban areas, such as Basel, Geneva and Zurich, it sinks as low as 15.4% (Basel-City). Geneva (18%) and Zurich (27.4%) are both far...

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.comSince the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022, prices rose 16% from US$ 3,866...

Recently published statistics show that more than half of the residents in certain parts of France were employed in Switzerland in 2018. © Sergii Figurnyi | Dreamstime.comThe data, published by INSEE, a French statistics agency, found that more than half of households in the communes du Genevois, Pays de Gex and Annemasse-Les Voirons, all regions bordering Switzerland, contained family members who worked abroad, almost all of them in Switzerland. In the communes du Genevois, 67% of...

Data published this week by Switzerland’s Federal Statistical Office (FSO) show that the number of active workers in Switzerland rose to a record 5.239 million by the end of 2021. Photo by Lex Photography on Pexels.comThe number of people employed at the end of 2021 was 1.9% higher than at the end of 2020. 5.239 million represents around 73% of those 15 or older. Sharp rise in hotel and restaurant jobs The number of people actively working in hotel and restaurant jobs rose 8,700...

In Germany, the lowest-priced Netflix subscription is CHF 8,30 (EUR 7.99) a month. The same subscription in Switzerland costs CHF 11.90, a price 43% higher than in Germany. Photo by Karolina Grabowska on Pexels.comGiven the large difference between German VAT(19%) and Swiss VAT (7.7%), all other things being equal, Swiss subscribers should expect to pay 10% less than German subscribers. After accounting for the VAT difference the Swiss price premium widens from 43% to 58%. According to...