BREAKING NEWS

BREAKING NEWS

Swiss government expects 2019 budget surplus of 1.3 billion Sfr

Now Reading:

Swiss government expects 2019 budget surplus of 1.3 billion Sfr

Swiss government expects 2019 budget surplus of 1.3 billion Sfr
Text size Aa Aa

ZURICH (Reuters) - The Swiss government said it was expecting a budget surplus of 1.3 billion Swiss francs ($1.31 billion) next year due to higher tax receipts and the rejection of a corporate tax reform project last year.

Looking ahead, the government said it expected a more stretched budget from 2020 onwards due to pension costs and tax changes.

Switzerland ran a federal budget surplus of 2.98 billion Swiss francs last year, far better than the deficit originally planned as tax revenue surpassed expectations.

In February it projected structural surpluses of 1.1 billion francs in 2019, 1.0 billion in 2020 and 1.9 billion in 2021.

(Reporting by Michael Shields)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.