Keller-Sutter: "Stability and sound finances are Switzerland's strength" (cross-border guide)

Context

Keller-Sutter: "Stability and sound finances are Switzerland's strength"

Federal Councillor Karin Keller-Sutter emphasised stability, sound finances and consensus-building on the occasion of the national holiday in Kradolf-Schönenberg (Thurgau) today. In his speech, which was given at noon in a marquee in front of the multi-purpose hall, the FDP representative described stability as "Switzerland's most important trump card in the current world context". According to the head of the Federal Department of Finance, sound finances and low debt are the best crisis prevention.

Stability is a key concept for Switzerland, which has been able to maintain a strong economy despite global challenges. As the Federal Councillor pointed out, low debt is a guarantee for investors and a security for citizens. Switzerland has a public debt of just 34% of GDP, which is considerably lower than other European countries. This is partly due to prudent management of public finances and the ability to generate surpluses.

The example of the Canton of Ticino is emblematic of this solid management. The canton has a public debt of 9.4% of GDP, one of the lowest values in Switzerland. This is partly due to the ability to generate surpluses and prudent management of public finances. The Canton of Ticino has also implemented a number of measures to improve public finance management, such as the creation of a reserve fund to deal with any crises.

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Operational details

Keller-Sutter: "Stability and sound finances, Switzerland's strength"

Stability is "Switzerland's most important trump card in the current global environment," said Federal Councillor Karin Keller-Sutter. Sound finances and low debt are the best prevention against crises. A principle that applies even in difficult times marked by wars of aggression and trade, economic isolation, an aging population and climate change.

Switzerland has a long tradition of stability and solvency. According to the annual report of the Swiss National Bank, Switzerland has had a federal budget surplus since 2009, with a net debt of just 4.5 billion Swiss francs (CHF) as of 2022. 📊

This is largely due to the strong fiscal policy of the federal government and the revenues of the Swiss National Bank. The Swiss National Bank's balance sheet was CHF 18.5 billion in 2022, the highest since Switzerland adopted the single currency (EMU) in 1999. The federal government has also introduced a number of measures to reduce public debt, including a goal to reduce the debt-to-GDP ratio to below 10% by 2025.

Switzerland's stability is also supported by a strong cantonal economy. The canton of Zurich, for example, has a GDP of CHF 143.8 billion in 2022, the highest of all cantons. The city of Zurich is also a major financial center, with many banks and investment firms having their headquarters or branches there. The city of Bern, the federal capital, is also an important economic and financial centre, with a strong presence of financial institutions and companies.

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Key points

Keller-Sutter: "Stability and sound finances, Switzerland's strength"

Consensus-building is essential to achieve common goals, she stressed. "In politics, it is about overcoming differences through dialogue to achieve a common goal," he concluded.

Switzerland is known for its economic stability and healthy finances. This is largely due to austerity policy and prudent management of resources. However, Federal Councillor Alena Keller-Sutter stressed the importance of continuing to work to maintain this stability and to meet the challenges ahead.

One of Switzerland's main goals is to maintain a stable and secure banking system. Switzerland is famous for its secret banks and its ability to protect customer deposits. However, she stressed the importance of continuing to work to maintain this level of security and to meet the new challenges that arise.

Public finance management

The management of public finances is another important aspect of Switzerland's stability policy. Switzerland has a decentralized system of government, with the cantons having a certain level of autonomy in managing finances. However, the Federal Councillor stressed the importance of continuing to work to maintain coherence and coordination between the cantons and the Confederation.

For example, the Canton of Ticino has implemented a public finance management system that has made it possible to reduce the deficit and increase financial stability. The Canton of Zurich, on the other hand, has implemented an investment system that has made it possible to increase returns and reduce risk.

The austerity policy

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