August 16, 2017 / 12:17 PM / 2 years ago

Swiss project 2017 budget surplus thanks to SNB

ZURICH, Aug 16 (Reuters) - The Swiss government may run a federal budget surplus of nearly 500 million Swiss francs ($513 million) this year thanks to a higher-than-expected profit payout from the Swiss National Bank and spending discipline.

It had originally expected a deficit of 250 million francs in the main federal budget. The latest finance ministry projections on Wednesday reflect trends in the first half of the year.

The main reason for the rosier outlook was the central bank’s profit payout. Bern’s share came in 243 million francs higher than the budgeted 333 million francs, it said.

Spending was also running around 400 million francs below budget.

$1 = 0.9740 Swiss francs Reporting by Michael Shields; Editing by Toby Chopra

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