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Canton and City in the black

Tuesday, 14 March 2023 06:30

Ville de Genève

Both the canton and city of Geneva are set to report stronger than expected financial results for 2022.

The canton could be in the black by more than a billion francs – when it was thought to show a deficit of nearly CHF 300m. Although the formal announcement is due at the end of the month.

The City is likely to show a positive figure of CHF 150m. The budget was for a deficit of CHF 33m. 

Analysts say the commodity sector is the main driver. Demand was strong at the end of the pandemic and then the war in Ukraine pushed up prices. 

The accounts will be published in full next month. 

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