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Swiss NEWS, infos and culture
As of 30 March 2023, the state financial statements for 2022 are available in electronic format on the website of the Federal Finance Administration (FFA). The figures are also available in the new federal budget data portal. The hard copy will be released on 21 April 2023. The Federal Treasury activity report is published to complement the state financial statements. [...]
At its meeting on 29 March, the Federal Council decided to enact further sanctions against Russia. This aligns Switzerland with the European Union, which recently adopted a tenth package of sanctions. The latest measures also include humanitarian exemptions and introduce a new means of safeguarding Swiss economic interests in specific cases. The changes come into effect at 8pm on 29 March. [...]
On 25 January and 15 February 2023, the Federal Council decided on measures to ease the burden on the budget. It already adopted adjustment measures of CHF 2 billion for 2024. However, as these measures are not sufficient to eliminate the structural deficits from 2025 onwards, it also wishes to look at strictly earmarked expenditure. During its meeting on 29 March 2023, the Federal Council set out the details of this decision, which provides for temporary reductions in federal contributions to unemployment insurance and the railway infrastructure fund, as well as a reduction in the cantons' share of direct federal tax. The consultation draft is planned for June. Benefit-related old-age and survivors' insurance measures, particularly in the area of pensions for widows, are to be addressed with a separate proposal and should ease the burden on the federal budget from 2026 onwards. This package of measures should save the federal budget around CHF 600 million to 700 million per year from 2025 onwards. This means that a deficit will remain in the financial plan years. [...]
In addition to the ordinary supplementary credits for the 2023 budget, the Federal Council adopted the special dispatch on the two urgent guarantee credits for the Swiss National Bank (SNB) and UBS during its meeting on 29 March 2023. These guarantees are for a total of CHF 109 billion and have no immediate financial implications for the Confederation. In addition, a supplementary credit of CHF 5 million was requested for additional resources. Furthermore, the Federal Council decided on an in-depth review of the events and a comprehensive evaluation of the too-big-to-fail regulatory framework. [...]
During its meeting on 29 March 2023, the Federal Council decided to increase the interest rates for outstanding COVID-19 credits with effect from 31 March 2023. The interest rate will now be 1.5% for credits up to CHF 500,000 and 2% for credits exceeding CHF 500,000. The Federal Council is thus taking account of interest rate developments. [...]