Geneva – The President and Minister of Swiss Finance, Karin Keller -Sutter, provides higher annual budgetary deficits, of around 3 billion Swiss francs (3.31 billion dollars) in the coming years, due to the increase Military spending and the cost of pensions, she told Sonntagszeitung in an interview.
Switzerland has historically had balanced budgets, even if it has started to report greater deficits from 2020 due to the additional costs linked to the COVVI-19 pandemic. In 2024, the deficit screened was 2.6 billion Swiss francs, according to a government website.
The Swiss voters decided during a referendum last year to increase the pensions of the elderly, despite the warnings of the government according to which this measure would be financially fragile.
The neutral country also modernizes its defenses after the war in Ukraine, buys new combat aircraft and missile systems and builds new data centers to make it less vulnerable to cyber attacks.
(1 $ = 0.9057 Swiss francs)
