Belgium posts largest eurozone deficit, limiting room for energy support
Belgium recorded the largest budget deficit in the eurozone in 2025, according to new figures from the International Monetary Fund (IMF), adding pressure on the federal government’s finances and complicating calls for additional support measures.
The Belgian deficit rose by 0.9 percentage points to 5.3 per cent of gross domestic product, overtaking France, where the deficit fell to 5.1 per cent, writes De Tijd. Across the eurozone, the average deficit stood at 3 per cent, in line with European budget rules.
The IMF sees little short-term improvement. Under unchanged policy, Belgium’s deficit is expected to remain above 5 per cent in both 2026 and 2027, leaving it among the weakest performers in the euro area.
Prime minister Bart De Wever has repeatedly pointed to the high deficit to argue that there is little scope for new spending, particularly to cushion rising energy costs for households and businesses.
This position has come under pressure within the governing coalition, where several parties are calling for targeted support measures. The debate risks further straining government unity at a time when public finances are already under scrutiny.
The Monitoring Committee previously estimated that an additional 4.9 billion euros in savings or new revenue would be needed to comply with European spending rules.
Political pressure over support measures
Within the coalition, Mouvement Réformateur (MR) has warned it could block government work if no agreement is reached on energy support, raising the stakes of the budgetary debate.
Party chairman Georges-Louis Bouchez has been among the most vocal advocates for measures to ease pressure on households, positioning the issue as a political priority despite the tight fiscal context.
The combination of a persistently high deficit and political pressure for additional spending highlights the difficult balance facing the government between fiscal consolidation and social support.
Credit rating agencies are also closely watching Belgium’s budget trajectory, with Moody's expected to publish an updated assessment later this week. Official EU numbers are due to come out next week.
Prime minister Bart De Wever © BELGA PHOTO JONAS ROOSENS
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