Belgian budget deficit up three billion euros in a few months
22 September 2022
If policy remains unchanged, Belgium's budget deficit will reach 23.14 billion euros or 4 per cent of gross domestic product next year, three billion euros more than expected in July. That is according to a preliminary report by the Monitoring Committee, the report that traditionally marks the starting point of discussions on next year's federal budget.
The margin to spend extra money has thus completely disappeared. With unchanged policies, the federal government is looking at a budget deficit of 23.14 billion euros or 4 per cent of gross domestic product. Although the audit committee will consider the preliminary report again this afternoon, the figure is unlikely to change much.
The figures now on the table already take into account the new energy measures of about a billion euros announced by the De Croo government last week. At an initial estimate in July, the committee assumed that our country would end up with a deficit of 20 billion euros, slightly higher than the 19.6 billion euro deficit estimated for this year.
Belgium's total budget deficit is even higher because the 23 million euros does not include the deficits of the regions and local governments, which would bring the total to about 31.5 billion euros.
© BELGA PHOTO NICOLAS MAETERLINCK - Prime Minister Alexander De Croo talks to the press during a press conference after a bilateral meeting between the Belgian delegation and the UN Secretary-General, in the margin of the 77th session of the United Nations General Assembly (UNGA 77), in New York City, United States of America, Wednesday 21 September 2022.