Federal Council anticipates deficit of CHF 1 billion and will decide on COVID-19 debt reduction at year-end

Bern, 01.07.2020 - The Federal Council discussed fiscal policy during its meetings on 24 June and 1 July 2020, and approved the 2021 budget with the integrated task and financial plan (ITFP) for 2022 to 2024. A deficit of CHF 1 billion is anticipated in the budget. The Federal Council also discussed the debt caused by the COVID-19 pandemic. It is confident that this can be reduced without tax increases. It intends to use a comprehensive fiscal policy review at the end of the year to make a concrete decision on reducing the debt.

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