in CHF bn
The federal budget from a debt brake viewpoint
Note: data for 2025 to 2027 based on latest budget assessment
Switzerland's gross domestic product remained below its potential in 2023, which meant that an ordinary financing deficit of 0.3% of ordinary receipts, or 0.2 billion, was permitted in 2023. Ultimately, there was a financing deficit of 0.7 billion in 2023. The maximum deficit permissible was thus exceeded. Consequently, continuing the trend set in 2022, the Confederation posted its second structural deficit since 2005. It amounted to 0.4 billion.
The structural financing deficit (- 0.4 bn) was debited to the compensation account, which shows the debt brake control statistics for the ordinary budget. The compensation account's balance at the end of 2023 was positive at 20.1 billion, reflecting the fact that the debt brake requirements have been exceeded overall in the past.
Extraordinary payments were required for the fourth consecutive year, but they were significantly lower than in previous years, which were impacted by high COVID-19 expenditure. The only expenditure recognized as extraordinary was in connection with people from Ukraine seeking protection (1.1 bn), as it was too high to be included in the ordinary budget. As in 2022, the provision allowing a debt brake exception was applied in 2023, as the influx of people from Ukraine seeking protection constitutes an extraordinary event beyond the control of the Confederation. At the same time, extraordinary receipts totaling 0.3 billion were also recognized, most of which came from dividends in connection with the sale of RUAG AG International. Extraordinary receipts are credited to the amortization account, while extraordinary expenditure is debited to it. At the end of 2023, the shortfall in the amortization account was thus 27.2 billion.
COMPENSATION ACCOUNT AND AMORTIZATION ACCOUNT Both of these instruments for debt brake control statistics are updated based on the actual results in the financial statements. Any structural financing surplus in the ordinary budget is currently credited to the amortization account (FBA amendment to reduce coronavirus-related debt; in force since February 1, 2023). Any structural financing deficit in the ordinary budget is debited to the compensation account. Within the framework of the 2023 financial statements, the balances of the compensation account and amortization account as of the end of 2022 were retroactively adjusted because of the amendment of the Financial Budget Act (FBA), which came into force on January 1, 2022). The changes concern primarily provisions and accruals and deferrals, which, from the time of creation or release, are subject to the debt brake from 2023 onward. They will be submitted to Parliament with the federal decree concerning the 2023 state financial statements. |
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 25.03.2024