Debt brake (federal finances)
Current data on compliance with the debt brake, the outlook in the financial plans, and extraordinary expenditure and receipts.
The federal budget from a debt brake viewpoint
A financing deficit of 845 million is forecast for 2026, and is attributable largely to the ordinary budget (-609 mn). The ordinary financing deficit can in turn be subdivided into a cyclical and a structural component.
In CHF bn
For 2026, the cyclical factor is 1.008, indicating economic capacity underutilization of 0.8%. The debt brake therefore permits a cyclical financing deficit of 717 million in the ordinary budget. Most of this is utilized in the 2026 budget, leaving leeway of only 108 million (structural financing surplus). The debt brake requirements are thus met in the 2026 budget. Despite the budget relief measures planned from 2027 onward, there is a risk of high structural financing deficits from 2029 onward.
In exceptional circumstances such as the COVID-19 pandemic or in the case of the large influx of people from Ukraine seeking protection, the debt brake permits additional expenditure that does not fall under the restrictions for ordinary expenditure. In the 2026 budget, extraordinary payment requirements are requested for the fifth time to finance expenditure for people from Ukraine seeking protection. As in the 2025 budget, only some of this expenditure is budgeted as extraordinary in 2026 (0.6 bn out of a total of 1.25 bn).
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. 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). Any structural financing deficit in the ordinary budget is debited to the compensation account.
Extraordinary receipts are credited to the amortization account, while extraordinary expenses are debited to it.
Data
Detailed data for longer periods are available under the following links: