The Swiss federal government is expecting a much smaller deficit than forecast. Instead of CHF800 million ($995 million) predicted for 2025, the federal budget deficit is expected to be CHF200 million, mainly due to a rise in tax revenues. +Get the most important news from Switzerland in your inbox As tax receipts "exceeded expectations" last year, they have been revised upwards by CHF1.5 billion for 2025, the Federal Council said on Wednesday. Income tax will benefit "strongly" from the additional revenues for 2022 and 2023 from energy and commodities trading companies in Geneva. Some CHF900 million is expected for 2025, according to the government, which points out that this is a "one-off and temporary" phenomenon. At the same time, VAT revenues are expected to fall by CHF200 million. Horizon Europe envelope Ordinary expenditure is expected to increase by CHF200 million, mainly due to additional appropriations requested during the year. This applies in particular to the CHF666 ...
