in CHF bn
The federal budget from a debt brake viewpoint
Switzerland's economic capacity is likely to remain underutilized in 2025. The cyclical factor, which is a measure of economic capacity utilization, is 1.006, indicating underutilization of 0.6%. The debt brake thus permits a cyclical financing deficit of 512 million in the ordinary budget (expenditure ceiling > ordinary receipts). Most of this is utilized in the 2025 budget, leaving leeway of 115 million (budgeted expenditure < expenditure ceiling). The debt brake requirements are thus met in the 2025 budget.
Ordinary expenditure is set to rise faster than the expenditure ceiling in the financial plan years of 2026 to 2028, resulting in structural financing deficits. As things currently stand, this means that the debt brake will no longer be complied with from 2026 onward. The adjustment required will climb sharply in 2027 and reach 2.6 billion by 2028.
In exceptional cases such as the COVID-19 pandemic or in the case of the very high number of people from Ukraine seeking protection, the debt brake permits additional expenditure that does not fall under the restriction for ordinary expenditure. In the 2025 budget, extraordinary payment requirements are requested for the sixth year in succession, including for the fourth time to finance expenditure for people from Ukraine seeking protection. The Federal Council has thus decided to phase out extraordinary financing for protection status S. In 2025 and 2026, only some of this expenditure will still be recognized as extraordinary. According to current estimates, no further extraordinary expenditure should be requested from 2027 onward.
COMPENSATION ACCOUNT AND AMORTIZATION ACCOUNT The debt brake control statistics are tracked based on the actual results in the financial statements. If there is a structural financing surplus in the ordinary budget, this is currently credited to the amortization account (FBA revision to reduce coronavirus-related debt; in force since February 1, 2023). A structural financing deficit is debited to the compensation account. The shortfall in the amortization account is likely to continue to rise because of extraordinary expenditure from 2024 to 2026. However, extraordinary receipts and possible structural surpluses in the ordinary budget (long-term average of around 1 bn) will curb the increase. |
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 15.08.2024