Tag Archives: Editor’s Choice

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...

An article published by RTS presents data that shows men outnumber women among the leaders of 20 of Switzerland’s 26 largest state affiliated companies. Photo by Pixabay on Pexels.comLike in much of the developed world politicians in Switzerland are pushing to get more women into top spots. Switzerland’s Federal Council has said it aims to have 40% of leadership positions in state affiliated companies filled by women before 2023. Currently, this objective looks out of reach. Out of the...

A recent report by the government that collected data from a sample of Swiss pension funds shows a significant deterioration in the financial health of Switzerland’s 2nd pillar pension funds over the first half of 2022. Inflation, higher interest rates and falling stock markets have hit the fortunes of the funds. © Scottnodine | Dreamstime.comBy the end of June 2022, 285 of the funds included in the survey owed more than they were worth, a phenomenon known as under coverage. The average...

Despite the current heatwave residents of Switzerland have not forgotten about how they might heat themselves over winter. With gas shortages looming and persistently high heating oil and gas prices, some are stockpiling wood. Photo by Skylar Kang on Pexels.comIncreased demand for wood is pushing prices higher. Wood prices have already risen 10%, according to RTS. Some vendors have never delivered such large quantities of wood during summer as they have this year. We are selling wood...