2020 financial statements: record-breaking deficit
Bern, 17.02.2021 - The federal budget ended 2020 with a record-breaking deficit of CHF 15.8 billion, caused by the COVID-19 pandemic. On the one hand, federal receipts were lower as a result of the economic downturn; on the other hand, the Confederation incurred high extraordinary expenditure to cushion the economic impact of the pandemic. The Federal Council was informed about the provisional results during its meeting on 17 February 2021. At the same time, it determined the fiscal policy framework for the next budget process. The Confederation is reckoning on a slow recovery for 2023 to 2025.
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