SWITZERLAND [NEWS SERVICE] ⋅ The canton of Schwyz closes 2020 with a surplus of over 97 million francs. That is over 100 million better than budgeted.
(help) The canton of Schwyz closes its 2020 accounts with an income surplus of 97.4 million francs. This at a cost of around 1.6 billion francs. A deficit of 3.3 million had been budgeted. After the sixth positive result in a row, the state budget is in excellent shape, said the canton of Schwyz on Thursday.
The canton’s main reasons for the positive result are higher tax income and the higher distribution from the Swiss National Bank. In addition, the budget targets were adhered to and in some cases even undercut – despite the corona effects, as the message also says. Among other things, the contributions to social insurance and for inpatient treatment to the hospitals were lower. In addition, the investment volume of CHF 28 million was CHF 15 million lower than planned.
The Canton of Schwyz now has equity of around CHF 500 million. Despite the pandemic, he estimates his earnings side to be robust, even if he expects tax losses. It even goes one step further: Thanks to the solid starting position, future financial challenges could be approached with confidence and, if necessary, further tax rate cuts.
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