Tuesday , January 22 2019
Home / le News / Switzerland expecting a 2.5 billion franc federal surplus for 2018

Switzerland expecting a 2.5 billion franc federal surplus for 2018

Summary:
The latest figures forecast Switzerland’s federal spending for 2018 will be CHF 0.9 billion less than expected. This and higher than expected receipts of CHF 1.3 billion add up to an extra CHF 2.2 billion on top of an original budget surplus of CHF 0.3 billion, bringing the total forecast federal surplus to CHF 2.5 billion. © Marekusz | Dreamstime.com Switzerland’s federal government is now expecting to spend CHF 70.2 billion is 2018, around CHF 8,300 per resident. The extra revenue is driven by better than expected growth in the economy, which has boosted VAT and tax receipts – predicted GDP growth of 2.3% is lower than the latest forecast of 3.6%. The improvement in spending was partly due to lower than expected welfare spending on asylum seekers – 26,000 asylum requests were expected

Topics:
Investec considers the following as important: , , , , ,

This could be interesting, too:

Investec writes Swiss unemployment lowest in 10 years

Investec writes Swiss Big Mac prices suggest Swiss franc still overvalued

Investec writes Running a Swiss business – changes in 2019

Investec writes Question of the week: do we still need a standard retirement age?

The latest figures forecast Switzerland’s federal spending for 2018 will be CHF 0.9 billion less than expected. This and higher than expected receipts of CHF 1.3 billion add up to an extra CHF 2.2 billion on top of an original budget surplus of CHF 0.3 billion, bringing the total forecast federal surplus to CHF 2.5 billion.

© Marekusz | Dreamstime.com

Switzerland’s federal government is now expecting to spend CHF 70.2 billion is 2018, around CHF 8,300 per resident.

The extra revenue is driven by better than expected growth in the economy, which has boosted VAT and tax receipts – predicted GDP growth of 2.3% is lower than the latest forecast of 3.6%.

The improvement in spending was partly due to lower than expected welfare spending on asylum seekers – 26,000 asylum requests were expected but only 16,500 are now forecast for 2018.

More on this:
Government press release (in French) – Take a 5 minute French test now

For more stories like this on Switzerland follow us on Facebook and Twitter.

About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *