Swiss Budget Has a Surplus Again
- Share via
BERN, Switzerland — The federal budget, reflecting a continuing favorable economic climate, showed a surplus in 1988 for the third straight year, the Finance Ministry said.
Federal finances finished $795 million in the black, exceeding the government target by $18.5 million, according to ministry estimates.
Last year, federal spending rose 11.6% to $16.9 billion, but revenue rose 12% to $17.78 billion, the ministry said.
Regional and local authorities in Switzerland spend much more than the federal government, which accounts for only a small part of national spending.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
