The Swiss government has ended the year with a surplus of CHF300 million ($389 million) instead of the expected deficit of CHF800 million, more than CHF1 billion better than forecast. + Get the most important news from Switzerland in your inbox The improvement is largely down to temporary extra revenue from Geneva. However, the Federal Council, Switzerland’s executive body, is urging caution and warning against reading too much into the result. Despite last year’s small surplus, the government’s finances remain under pressure, it said in a statement on Wednesday. Structural deficits of between CHF2 billion and CHF4 billion are still expected for 2027 and 2029, even with the cost‑cutting package currently before parliament and the planned VAT rise earmarked for the armed forces and security. According to the Federal Council, the CHF900 million in cuts approved by the Senate – the first chamber to examine the controversial savings package – mean that the 2027 budget is no longer ...
