Belgium to borrow 60 bn euros next year

Belgium will borrow almost 60 billion euros next year, money that is needed to finance deficits and repay debts. That shows the financing plan of the Belgian Debt Agency, revealed on Friday.

The Debt Agency is responsible for public debt management in Belgium. Its main objective is to minimise the financial costs related to the federal debt, taking into account market and operational risks in line with the general objectives of the budgetary and monetary policy.

The Debt Agency expects the federal government's gross financing requirements to amount to 59.55 billion euros in 2026. That is 5.9 billion euros more than this year's requirements.

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belganewsagency.eu

Belgium has to borrow money because it spends more than it receives. This net financing requirement is estimated at 26.37 billion euros next year. The country also has to repay debts it incurred, amounting to 28 billion euros. On top of that, there is the repurchase of maturing government bonds and other financial obligations.

This money is borrowed on the international financial markets and, to a lesser extent, from private investors, via government bonds.

^{Debt agency director Jean Deboutte at a press conference © BELGA PHOTO JAMES ARTHUR GEKIERE}