The government of Geneva is forecasting a deficit of CHF 256 million for the 2024 budget.
It announced yesterday that while 256 million sounds like a great deal, it is actually only about half the deficit budgeted for the current year, which amounts to CHF 476 million.
The 2024 budget still has to be approved by the Grand Counsel.
Geneva’s annual budget is around CHF 10 billion.
Its current debt amounts to a little under CHF 11 billion.
Phone company going to court
A Swisscom technician who spent 38 years at the company says he was fired for helping his 80-year-old neighbour cancel a subscription she never wanted
Swiss watch authenticity
Voices in the Swiss watch industry are calling for a new '100% Swiss made' label to distinguish fully home-produced timepieces from those partly manufactured in Asia
Valais school initiative
Valais is rolling out an interactive workshop for 2,600 secondary school pupils to help them spot hidden marketing on social media
UBS latest news
The Council of States has backed a 90% capital-coverage rule for UBS's foreign subsidiaries — a compromise stopping short of the Federal Council's push for full coverage
Housing concerns still an issue
Switzerland's housing crisis will ease only marginally next year, according to a new study
Valais scam alert
Valais police say a fresh wave of phone scams has cost residents nearly CHF 150,000 in the past week alone
