Federal finances at a glance
What is the Confederation's financial situation? How high are federal receipts and expenditure? Key figures at a glance.
2026 budget
Overall fiscal balance in CHF bn
Note: the data for 2026 to 2029 is based on the federal decrees concerning the 2026 budget with the integrated task and financial plan (ITFP) for 2027 to 2029
The statement of financial performance ended 2025 with a surplus of 3.8 billion, which was significantly higher than both the budgeted figure (1.4 bn) and the previous year's result (2.1 bn). Current receipts (+4.3%) grew at a faster pace than current expenditure (+2.0%). Self-financing thus rose to 6.2 billion year on year. However, depreciation, amortization and other valuation changes weighed on the result (-2.4 bn). Net investments (investment receipts less investment expenditure) climbed by 1.6 billion year on year to reach 5.9 billion.
Self-financing (6.2 bn), which corresponds to the financing contribution from the statement of financial performance, was sufficient to fully finance net investments (5.9 bn). In other words, receipts entirely covered expenditure. For the first time since 2019, a slightly positive financing surplus of 259 million was posted in fiscal 2025. With a balance of 1,185 million, the ordinary account recorded a surplus, while the extraordinary account made a negative contribution to the result (-925 mn).
Net debt fell to 140.1 billion (-1.3 bn) in 2025, due to the financing surplus and, above all, to transactions that were credited directly to net assets/equity (1.0 bn). The net debt ratio was thus 16.1% of GDP.
Real economic growth amounted to 1.4% in 2025 (2024: 1.2%), and thereby remained once again below average. The year was marked by US trade policy, and especially tariff changes. The difficult international environment and the accompanying uncertainty weighed particularly heavily on investments. Inflation as measured by the national consumer price index continued to fall, and came in at 0.2% (2024: 1.1%).
While the debt brake would have permitted a financing deficit of 262 million in the ordinary account, a financing surplus of 1,185 million was achieved. The resulting structural financing surplus of 1.4 billion was credited to the amortization account, in order to reduce the debt related to the COVID-19 crisis. The extraordinary financing deficit, for its part, had a negative impact of 925 million on the amortization account. As a result, the amortization account's shortfall decreased by just 521 million to 26.3 billion (2024: -26.8 bn). The compensation account, by contrast, remained unchanged.
Data
Detailed data for longer periods are available under the following links: