Debt

Development of net debt

in CHF bn and % of GDP

Note: data for 2025 to 2028 in accordance with 2025 federal decree with integrated task and financial plan for 2026 to 2028

Given the financing deficit of 80 million, net debt for fiscal 2024 decreased very slightly to 141.4 billion (-0.2 bn). Its level was also influenced by financial transactions directly in net assets/equity. These included the revaluation of employee retirement benefit liabilities and financial transactions due to changes in interest rate assumptions.

The debt ratio edged down to 17.2% in 2024, as the change in net debt (-0.2%) was smaller than that in nominal GDP (2.2%).

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 and transactions charged directly to net assets/equity.

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Last modification 18.03.2025

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