
Key topics
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Federal budget
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Debt brake
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National fiscal equalization
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![]() Since 2003, it has been possible to stabilise the debt of the Confederation or reduce it relative to gross domestic product (GDP). At the end of 2012, it amounted to CHF 112.4 billion. The debt ratio (as a percentage of GDP) was lowered from 27.2% in 2005 to 19.0% at the end of 2012. The debt brake, which has been in effect since 2003, contributed significantly to this good result.
The financial and economic crisis has had a significant impact on government finances. Switzerland (Confederation, cantons and communes) is faring better than the eurozone. While the eurozone countries posted deficits overall in recent years, Switzerland always managed a surplus. At the same time, the debt ratio (as a percentage of GDP) declined in Switzerland and increased in the eurozone.
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