On 1 July 2019, the EU withdrew stock market equivalence for equity securities listed on the Swiss stock exchange. Since then it has not been possible to trade Swiss-listed shares in the EU. The loss of EU financial market equivalence occurred while Switzerland was haggling with Brussels over a framework agreement aimed at replacing Switzerland’s […]
6 billion franc Swiss National Bank payment after new agreement
Switzerland’s Federal Department of Finance (FDF) and the Swiss National Bank (SNB), Switzerland’s central bank, have signed a new agreement on how SNB profits can be distributed. The new agreement, which applies until 2025, allows for the SNB to make an annual payment of up to CHF 6 billion to the government, should central bank […]
Swiss inflation turns negative in 2020
During 2020, average annual inflation was –0.7%, according to Switzerland’s Federal Statistical Office (FSO). In December 2020, Switzerland’s consumer price index (CPI) fell by 0.1% compared with November 2020. Compared to December 2019, prices in December 2020 were 0.8% lower. Annual inflation reached -0.7% across the full year. The main drivers of a falling CPI […]
Swiss unemployment up steeply in 2020
Today, figures on Swiss unemployment at the end of 2020 were published. At the end of December 2020, there were 163,545 people registered as unemployed in Switzerland, a figure 39.5% higher than at the end of 2019. At 31 December 2020, the number of job seekers was 260,318, a number 34.9% above the same figure […]
Swiss rents and property prices up in 2020 due to pandemic
The pandemic had a significant impact on Swiss real estate prices in 2020, according to industry experts. Contrary to initial fears that property prices would fall, prices have risen over the period. Over the year, the offer prices of stand alone houses rose by 5.6% while apartment prices jumped by 5.5% across Switzerland as a […]
Pandemic dents financial optimism for 2021 in Switzerland
18% of Swiss adults are convinced their financial situation will worsen in 2021, according to a survey. This percentage is markedly higher than at the end of 2019 when the same figure was 13%. The rise in pessimism is largely linked to job insecurity. 68% are concerned they will face full or partial unemployment, while […]
Swiss petrol and diesel tax to rise on 1 January 2021
On 1 January 2021, Swiss pump prices are set to rise by 3.7 cents per litre. From 1 January 2021, the total taxes on a litre of petrol and diesel in Switzerland will be 77 and 80 cents respectively. At a price of CHF 1.50 litre, taxes will make up over half the price of […]
Large government budget deficit in 2021 for Switzerland
On 16 December 2020, Switzerland’s Council of States, the nation’s upper house, accepted a 2021 budget deeply in the red following its acceptance last week by the National Council. In 2021, Switzerland’s federal government plans to collect CHF 75.8 billion while spending CHF 81.9 billion, plunging the budget CHF 6.1 billion into the red. The […]
Switzerland’s population happy with the health system, according to survey
Switzerland’s health system is rated highly by the public, according to the latest survey conducted in eleven countries by the Commonwealth Fund Foundation. Every 3 years, the Foundation conducts a survey of the general population in eleven countries to investigate experiences of the health system. 88% of the 2,284 people surveyed across all of Switzerland […]
Swiss government promises one billion francs for Covid hit businesses
This week, Switzerland’s federal government decided to increase aid money to Covid hit businesses to CHF 1 billion. Before this announcement, Bern had already committed to providing CHF 400 million to struggling businesses. Funding for the first CHF 400 million is split 50-50 between cantonal and federal tax payers. The additional CHF 600 million will […]
