European Commission gives Belgium until the end of the year to submit budget plan
The European Commission has granted Belgium an extension to submit its multi-annual budget plan until 31 December, following a request by Bart De Wever. The delay was necessary due to the ongoing challenges in forming a new federal government.
"The Commission has assessed the information provided by all mMember States that requested a postponement, and each Member State concerned has confirmed its agreement to this postponement," the European Union's executive board told Belga on Thursday.
Recent reforms to European budget rules required all member states to submit a structural plan for their medium-term budget, reforms and investments by 20 September. The Commission is paying particular attention to Belgium and seven other countries currently subject to an excessive deficit procedure.
Still no government
As the formateur leading negotiations to form the new federal government, De Wever had initially aimed to have a government in place before 20 September, but was unable to meet that target. As a result, he asked Alexia Bertrand, state secretary for budget in the outgoing government, to seek an extension from the Commission until the end of the year.
Belgium is not alone in requesting an extension. As of 20 September, only Denmark and Malta had submitted their plans on time. Twenty-one other governments have asked for a postponement until the end of October, while four, including Belgium, requested a longer delay.
To aid countries in drawing up their plans, the Commission has presented reference trajectories. Under certain conditions, the Commission can approve a seven-year timeline to place public finances on a sustainable footing. According to the Monitoring Committee, Belgium’s restructuring efforts are expected to require approximately 28 billion euros.
© BELGA PHOTO JAMES ARTHUR GEKIERE
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