Wednesday , May 5 2021
Home / le News / Switzerland books a federal deficit of 14 billion francs in 2020

Switzerland books a federal deficit of 14 billion francs in 2020

Summary:
On 14 April 2021, Switzerland’s federal government announced it had spent CHF 14.2 billion more that it had collected in revenue in 2020. © Marekusz | Dreamstime.comThe loss represents the federal government’s consolidated excess expenditure for the year and is linked to the consequences of the Covid-19 pandemic, according to the statement. An additional CHF 16.8 billion was spent as a result of the pandemic. Consolidated accounts include the results of companies linked to the confederation and social security payments. In 2019, the consolidated federal accounts were CHF 11.2 billion in the black, so the 2020 result is CHF 25.4 billion worse than the year before. More on this:Government press release (in French) – Take a 5 minute French test now For more stories like this

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

This could be interesting, too:

Investec writes Covid: 13,465 new cases in Switzerland this week

Investec writes Renters charged fees to view apartments in Geneva

Investec writes Real Swiss salaries up most in 5 years

Investec writes Old Swiss money no longer valid from Friday

On 14 April 2021, Switzerland’s federal government announced it had spent CHF 14.2 billion more that it had collected in revenue in 2020.

© Marekusz | Dreamstime.com

The loss represents the federal government’s consolidated excess expenditure for the year and is linked to the consequences of the Covid-19 pandemic, according to the statement. An additional CHF 16.8 billion was spent as a result of the pandemic.

Consolidated accounts include the results of companies linked to the confederation and social security payments.

In 2019, the consolidated federal accounts were CHF 11.2 billion in the black, so the 2020 result is CHF 25.4 billion worse than the year before.

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

Switzerland books a federal deficit of 14 billion francs in 2020

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Your email address will not be published.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 *