Debt

Development of net debt

in CHF bn and % of GDP

Net debt is likely to rise by 0.7 billion to 145.1 billion in 2025 because of the expected financing deficit. Net debt is also affected by transactions directly in net assets/equity. However, these are not budgeted for.

The net debt ratio is likely to fall to 17.3% in 2025 (2024 budget: 17.6%), as the increase in net debt (+0.5%) is smaller than nominal GDP growth (2.8%).

DEFINITION OF NET DEBT

The definition of net debt is broader than gross debt in accordance with the Maastricht definition. Total liabilities are recognized on the liabilities side (including provisions and other liabilities). Net debt, consisting of liabilities less non-administrative assets, allows new debt to be derived directly via the overall fiscal balance.

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Last modification 15.08.2024

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