Headlines
Swiss president forecasts deficits of 3 billion francs in coming years
Published by Global Banking and Finance Review
Posted on January 26, 2025
1 min readLast updated: January 27, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 26, 2025
1 min readLast updated: January 27, 2026
Swiss President Karin Keller-Sutter forecasts annual deficits of 3 billion Francs due to increased military and pension costs, impacting Switzerland's historically balanced budgets.
GENEVA - Switzerland's President and Finance Minister Karin Keller-Sutter forecast higher annual budget deficits of around 3 billion Swiss Francs ($3.31 billion) in the next few years due to higher military spending and pension costs, she told SonntagsZeitung in an interview.
Switzerland has historically had balanced budgets although began reporting larger deficits from 2020 due to extra costs tied to the COVID-19 pandemic. In 2024, the projected deficit was 2.6 billion Swiss Francs, a government website showed.
Swiss voters decided in a referendum last year to increase pension payments for older people despite government warnings that it is financially unsound.
The neutral country is also upgrading its defences after the Ukraine war, buying new fighter aircraft and missile systems as well as building new data centres to make it less vulnerable to cyber attacks.
($1 = 0.9057 Swiss francs)
(Reporting by Emma Farge; Editing by Tomasz Janowski)
The article discusses Switzerland's forecasted budget deficits of 3 billion Francs due to increased military and pension spending.
Deficits are rising due to higher military spending and pension costs, as well as previous impacts from the COVID-19 pandemic.
Switzerland has traditionally maintained balanced budgets but has faced larger deficits since 2020.
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