Overall fiscal balance in CHF bn
2024 Financial Statements
Note: data for 2025 to 2028 in accordance with 2025 federal decree with integrated task and financial plan for 2026 to 2028
The statement of financial performance ended 2024 with a surplus of 2.1 billion, which was significantly higher than the budget (-305 mn) and the previous year's result (877 mn). The annual result comprises self-financing and changes in the valuation of administrative assets. Current receipts grew at a faster pace than current expenditure (+5.9% and +5.0%, respectively); self-financing thus rose to 4.2 billion relative to the previous year. Depreciation, amortization and other changes in the valuation of administrative assets dipped slightly (-2.1 bn). Net investments (investment receipts less investment expenditure) fell by 0.5 billion year on year to 4.3 billion.
The financing contribution from the statement of financial performance – self-financing (4.2 bn) – was marginally insufficient to fully finance the planned net investments (4.3 bn). In other words, receipts did not cover total expenditure. The 2024 result was almost balanced, with a financing deficit of 80 million. While the ordinary fiscal balance amounted to 817 million and posted a surplus for the first time since 2019, the extraordinary budget made a negative contribution (-897 mn) to the result.
Net debt decreased to 141.4 billion (-276 mn) in 2024. Although the financing deficit raised debt slightly, transactions credited directly to net assets/equity (357 mn) led to a reduction. The net debt ratio was 17.2% of GDP.
Real economic growth amounted to 0.9% in 2024. Despite monetary policy easing and falling inflation rates worldwide, the challenging international environment weighed on investments and the Swiss export sector. Switzerland's economic output remained below its potential. The debt brake would have permitted a cyclical financing deficit of 504 million in the ordinary budget, but a financing surplus of 817 million was achieved. The resulting structural financing surplus of 1.3 billion was credited to the amortization account because of the FBA revision to reduce coronavirus-related debt. Furthermore, the extraordinary financing deficit (-897 mn) was debited to the amortization account. Consequently, the amortization account's balance decreased by 424 million to 26.8 billion. The compensation account remained unchanged.
Data
Detailed data for longer periods are available under the following links:
- Link data portal
- Link Open Government Data
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Last modification 19.03.2025