Cantonal finances Around half of the Swiss cantons expect a deficit in 2025

The cantons have presented their budgets for 2025 in recent weeks. The situation is very different. Around half of the cantons are expecting to be in the red and the other half in the black.

The financial situation of the cantons is developing positively in many places. The canton of Berne is expecting the largest surplus with a plus of CHF 246 million. Higher income was generated in the canton of Zug, for example, due to strong population growth and high-tax inward migration.

In some cases, however, expenditure increased more than income. The canton of Vaud recorded the largest deficit, with a loss of CHF 303 million. This is the largest deficit in 25 years for the western Swiss canton.

The cantons recorded the highest expenditure in the areas of education, social affairs and health. Costs in these areas have risen sharply in various cantons in recent years.