Swiss Finance Minister Ueli Maurer, 68, assumed office of Federal President on Tuesday, TASS reported.

Maurer was born in a peasant family, received a federal diploma of accountant, and headed the Farmers Association of the Canton of Zurich from 1994 to 2008.

Formerly head of the Swiss Federal Department of Defence, Civil Protection and Sports, Maurer has been the head of the Federal Department of Finance since 1 January 2016. Maurer served as Vice-President of the Swiss Confederation in 2012 and 2018 and as President of the Swiss Confederation in 2013. He was also reelected Federal Councillor in the Swiss Federal Council election of 8 December 2015.

The most important foreign policy task of Bern in 2019 will be resolving differences in EU relations regarding the conclusion of a framework agreement on institutional issues.

Maurer will exercise presidential powers in the year of parliamentary elections scheduled for October 20.