– Accounts a little less red than expected
Finally, the year 2021 should end with a deficit of 14.8 billion francs. The loss is due in particular to spending $ 16.6 billion to stem the Covid-19 pandemic.
Posted today at 13:12
The 2021 accounts of the Confederation should end with a deficit of 14.8 billion francs. The second extrapolation is less pessimistic than the first, the Federal Council announced on Wednesday.
The June extrapolation announced a deficit of 17.4 billion. In 2020, the loss was 15.8 billion.
The loss is due to spending of 16.6 billion francs to stem the Covid-19 pandemic, including 14.5 billion in the form of extraordinary expenses. The accounts are expected to record extraordinary income of 1.5 billion, of which 1.3 billion comes from the additional profit distributed by the Swiss National Bank.
The government and Parliament have planned extraordinary expenses of 21 billion francs. But the actual charges should turn out to be less.
The resources planned by the cantons for hardship cases are lower than during the first extrapolation (4 billion instead of 5.5). Some 4.4 billion are provided for compensation in the event of a reduction in working hours, against 5 previously. In this case, the unemployment insurance must reimburse 555 million that the Confederation overpaid according to the final statement of 2020.
In the ordinary budget, the Confederation is expected to post a financing deficit of 1.7 billion (against 2.4 in June). Ordinary expenditure is expected to decline by 400 million to a total of 76.5 billion and revenue to increase by 300 million (74.7 billion).
The VAT should bring in 310 million more than expected in June thanks to the expected improvement in the economy and the evolution of revenues. The expected revenue is thus about 170 million higher than the budgeted amount. Stamp duties benefit from more lively stock market activity and should bring in an additional 250 million, and 340 more in the budget.
The direct federal tax will bring in less than expected (- 202 million). Its progress has slowed since June, explains the Federal Council. However, this tax is expected to generate additional revenues of 1.2 billion compared to the budget.
Posted today at 13:12
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