Switzerland forecasts 1.5 billion franc surplus
Published: 15 Aug 2012 15:39 GMT+02:00
Updated: 15 Aug 2012 15:39 GMT+02:00
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The forecast, which comes after the Federal Council previously announced a balanced budget for 2012, was explained by lower expenditures than the 64.1 billion francs planned because of the impact of lower interest rates.
However, net income was expected to fall by 800 million francs by the end of the year owing to the economic slowdown, the government said in a statement.
It added that the surplus would not have any effect on 2013 budget -- which contains a 400 million franc deficit.