Debt
What are the developments as regards the Confederation's net debt, the net debt ratio, liabilities, non-administrative assets and new debt?
Development of net debt
In CHF bn
Net debt fell slightly to 140.1 billion (-1.3 bn) in 2025, due to transactions that were credited directly to net assets/equity (1,034 mn), as well as the financing surplus of 259 million.
The debt ratio fell to 16.1% in 2025 (versus 16.6% in 2024), as the decline in net debt (-0.9%) and nominal GDP growth (+1.7%) both brought the ratio down.
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.
Data
Detailed data for longer periods are available under the following links: