Tag Archives: Personal finance

© Marekusz | Dreamstime.com Switzerland’s federal accounts ended 2020 with a record-breaking deficit of CHF 15.8 billion. The deficit was caused by the pandemic. An unexpected CHF 3.6 billion fall in revenue combined with net CHF 12.5 billion in largely unplanned expenses combined to take the overall result CHF 16.1 billion below the expected positive net result of CHF 0.3 billion to deliver a loss of CHF 15.8 billion for the year. Pandemic-related expenditure...

© Sam Wordley | Dreamstime.com In 2019, the poverty line in Switzerland was CHF 27,348 (US$ 30,500) for a single person and CHF 47,712 (US$ 53,200) for a couple with two young children. The figures are calculated by SKOS based on the cost of living in Switzerland. People with incomes below these levels in Switzerland are considered to by living in poverty. In 2019, 8.7% of Switzerland’s population was living on less that these amounts, up 0.8 percentage points from...

After falling by 0.8% in the first quarter of 2020, average Swiss residential property prices have rebounded, rising in every quarter since to deliver an annual 2020 increase of 2.5%. © Stbernardstudio | Dreamstime.comAverage residential property prices rose by 1.4% in Q2, by 0.2% in Q3 and by 2.3% in the final quarter of 2020. Across the year, the prices of single family dwellings (+2.8%) rose more than the price of apartments (+2.2%). The biggest gainers were single family homes in...

The rate of unemployment in Switzerland in the 4th quarter of 2020 was 4.9%, up from 3.9% in the 4th quarter of 2019. The same figures for the EU were 6.6% (Q4 2109) and 7.5% (Q4 2020). © Sergiomonti | Dreamstime.comUnemployment rates were highest among those aged 15-24 (7.3%) and 25-39 (5.4%). Those aged 40-54 (4.6%) and 55-64 (3.9%) had the lowest rates. The statistics don’t cover workers older than 64. In the 4th quarter of 2020, Swiss nationals (3.9%) fared better than foreigners...

Switzerland’s federal accounts ended 2020 with a record-breaking deficit of CHF 15.8 billion. The deficit was caused by the pandemic. © Marekusz | Dreamstime.comAn unexpected CHF 3.6 billion fall in revenue combined with net CHF 12.5 billion in largely unplanned expenses combined to take the overall result CHF 16.1 billion below the expected positive net result of CHF 0.3 billion to deliver a deficit of CHF 15.8 billion for the year. Pandemic-related expenditure amounted to CHF 14.7...

In 2019, the poverty line in Switzerland was CHF 27,348 (US$ 30,500) for a single person and CHF 47,712 (US$ 53,200) for a couple with two young children. The figures are calculated by SKOS based on the cost of living in Switzerland. People with incomes below these levels in Switzerland are considered to by living in poverty. © Sam Wordley | Dreamstime.comIn 2019, 8.7% of Switzerland’s population was living on less that these amounts, up 0.8 percentage points from 7.9% in 2018. Those...

Statistics published at the end of January 2021 show a fall in the percentage of the population included in the definition of middle class in Switzerland. © Rawpixelimages | Dreamstime.comMiddle class includes everyone belonging to a household with a gross income of between 70% and 150% of the median, according to a definition by Switzerland’s Federal Statistical Office. In 2018, single-person households with gross monthly incomes of between CHF 4,094 and CHF 8,773 and families of two...

Statistics published at the end of January 2021 show a fall in the percentage of the population included in the definition of middle class in Switzerland. © Rawpixelimages | Dreamstime.com Middle class includes everyone belonging to a household with a gross income of between 70% and 150% of the median, according to a definition by Switzerland’s Federal Statistical Office. In 2018, single-person households with gross monthly incomes of between CHF 4,094 and CHF 8,773...

On 1 July 2019, the EU withdrew stock market equivalence for equity securities listed on the Swiss stock exchange. Since then it has not been possible to trade Swiss-listed shares in the EU. © Liskonogaleksey | Dreamstime.comThe loss of EU financial market equivalence occurred while Switzerland was haggling with Brussels over a framework agreement aimed at replacing Switzerland’s patchwork of bilateral agreements with the EU, which cover matter such as trade and migration. On 1 July...

Switzerland’s Federal Department of Finance (FDF) and the Swiss National Bank (SNB), Switzerland’s central bank, have signed a new agreement on how SNB profits can be distributed. Source: Swiss National BankThe new agreement, which applies until 2025, allows for the SNB to make an annual payment of up to CHF 6 billion to the government, should central bank finances permit. Previously, the maximum payment was CHF 4 billion. The CHF 6 billion payment is made up of a base amount of CHF 2...