Tag Archives: Editor’s Choice

This week, the federal government fixed a voluntary objective for Switzerland to reduce gas consumption by 15% over the coming winter, according to RTS. Photo by RODNAE Productions on Pexels.comThe Federal Council’s 15% gas saving objective, announced on 24 August 2021, covers the period between October 2022 and March 2023. The EU has set the same objective. Switzerland produces no natural gas and possesses no seasonal storage facilities. To build a reserve of natural gas Switzerland...

In Switzerland, almost 1.7 million people were aged 65 or older at the end of 2021, a figure that makes up 19% of the population, according to data published on 28 August 2022. Photo by cottonbro on Pexels.comIn 2021, one woman in five and one man in six was aged over 64, according to the Federal Statistical Office (FSO). Switzerland’s dependency ratio, which is the percentage of the population over 64 divided by the working age population1, reached 31.1% in 2021, the highest it has...

Electricity cuts lasting several hours are predicted this winter in Switzerland, according to Laurianne Altwegg, vice president of the Federal Electricity Commission. This winter we should ensure we have enough candles and wood for a wood stove for those who have one, advised Altwegg in an interview with RTS. Photo by Pixabay on Pexels.comOutages may not occur, but it is necessary to be prepared, he said. During the coming winter, it is estimated that Switzerland could fall 3 TWh short of...

Electricity cuts lasting several hours are predicted this winter in Switzerland, according to Laurianne Altwegg, vice president of the Federal Electricity Commission. This winter we should ensure we have enough candles and wood for a wood stove for those who have one, advised Altwegg in an interview with RTS. Photo by MD Molla on Pexels.com Outages may not occur, but it is necessary to be prepared, he said. During the coming winter, it is estimated that Switzerland...

On 17 August 2022, Switzerland’s government announced a new net spending estimate for 2022 showing a deficit of CHF 5 billion, more than double the budget deficit of CHF 2.3 billion announced in December 2021. © Pichetw | Dreamstime.comThe two main drivers of the higher estimated loss for 2022 are higher spending related to the Covid-19 pandemic (+3.2 billion) and aid related to the Ukraine war and Ukrainian refugees (+0.9 billion). The total of these spending increases (+5.0 billion)...

Swiss health insurance premiums are set to rise sharply in 2023, according to a new study. Price rises could reach close to 10% in some cantons. © Francisco Javier Zea Lara | Dreamstime.comOn average premiums across the country are expected to jump at least 5.4%, according to a study published by Accenture, reported RTS. One of the reasons behind the rises is pressure from the government to refund financial reserves. Reserves are typically used to cover unexpectedly costly years....

Figures published by Switzerland’s Federal Statistical Office (FSO) on 3 August 2022 show annual inflation running at 3.4% in July, the same rate as June. Photo by Anna Shvets on Pexels.comSwitzerland’s consumer price index (CPI) remained stable in July 2022 compared with the previous month, and 3.4% higher compared with the same month of the previous year, said FSO. Over the month, falling prices of clothing and footwear, household appliances, oil products and alcoholic drinks were...

Like most central banks the Swiss National Bank (SNB) is tasked with monetary stability. However, in the process it can inadvertently generate large profits and losses. SNB – BernWhen monetary policy is expansionist and the resulting assets held by the SNB rise in value it can generate large profits as it has over the last few years. However, when the Swiss franc strengthens and asset values slump the bank can generate large losses as it did in the first half of 2022. Over the first...

Data published this week on 19 July 2022, suggest that 6th wave Covid-19 infections in Switzerland may have peaked. Photo by Anna Shvets on Pexels.com Data published by Switzerland’s Federal Office of Public Health show 46,099 new cases over the 7 days to 18 July 2022. Over the prior 7 days there were 55,339 cases. Recorded cases have dropped 17% week on week. In addition, the number of weekly hospitalisations has fallen from 429 to 227 and deaths from 28 to 18. The...

This week, Benoît Revaz, head of the Swiss Federal Office of Energy (SFOE), said there is an unprecedented level of uncertainty in Europe concerning energy provision, reported RTS. Photo by Pok Rie on Pexels.comPrices have been seriously affected by the war in Ukraine and Switzerland has not been spared, said Revaz. We are now experiencing the first global energy crisis with Europe at the epicentre. A central element of Revaz’s plan to get Switzerland through the crisis is reduced...