“Switzerland expects to post a budget surplus of about 1.5 billion Swiss francs ($1.53 billion) this year as [artificially low] interest rates helped reduce its debt financing costs, the government said Wednesday.  The Swiss fiscal authorities had projected a balanced budget for 2012, after a surplus of CHF1.9 billion last year, but expenditure will be around CHF800 million less than expected.  The Alpine country’s economy has been one of the best performing in Europe this year, with demand for its high-quality products, particularly watches and luxury goods, helping to push its unemployment rate to 2.7%.”

http://online.wsj.com/article/BT-CO-20120815-704703.html

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