The Swiss economy's recovery after the COVID-19 pandemic is also reflected in the government units' 2022 results. A financing surplus of 6.9 billion is anticipated for the general government (Confederation, cantons, municipalities and social security funds), due primarily to the high surpluses of the cantons and social security funds. By contrast, the Confederation's results are set to remain negative. Despite weaker economic growth in 2023 and 2024, the general government's fiscal balance is expected to stay positive. Switzerland's net debt ratio is likely to decline further in the coming years in the wake of the COVID-19 pandemic. This is shown in the latest financial statistics figures of the Federal Finance Administration (FFA).
With the end of the COVID-19 pandemic, the Swiss economy improved significantly in 2022, as did the public finances as a whole. The figures for fiscal 2022 show a financing surplus of 6.9 billion. Receipts were up by 7.1 billion, while expenditure was down by a hefty 6.5 billion to 243.1 billion. The positive result was largely attributable to the cantons and the social security funds (surplus of 5.0 bn each). The Confederation (-2.9 bn) and municipalities (‑0.2 bn) sub-sectors ended the year with a negative fiscal balance.
Despite below-average economic growth, the general government's result is expected to remain positive in 2023 and 2024, once again driven primarily by the financing surpluses of the cantons and social security funds. The social security funds will continue to benefit from high employment, which leads to lower expenditure and higher receipts. In 2024, the social security funds will additionally benefit from the VAT increase as part of the AHV reform. A surplus of 5.8 billion is anticipated for the general government in 2023, and 8.2 billion in 2024.
The press release (PDF, 208 kB, 12.10.2023) and report provide detailed information on the new figures. For the first time, the financial statistics figures are also available on the Federal Finance Administration's new data portal, where various display options and time series can be found. Click here for the new data portal.
Last modification 21.11.2023