Flanders sees interest payments soar past one billion euros
The Flemish government will have to pay more than 1.2 billion euros in interest on its debt next year. This information comes from budget preparation documents made public by Tom Van Lampert, an opposition MP from Vlaams Belang.
Total interest charges, including ancillary costs, are set to rise from 863 million euros in 2025 to over 1.22 billion euros in 2026. Interest on new financing alone will amount to 485.4 million euros, which is 373.7 million euros higher than in 2025.
Lamont described the increase in interest payments as "staggering". "Debt servicing risks costing as much as the entire operating budget of some policy areas," he said. Vlaams Belang is calling for a “thorough debate on core government tasks” and wants to abolish subsidies for non-profit organisations that, in its view, offer no tangible social benefit.
In response, Budget minister Ben Weyts (N-VA) stated that the Flemish budget had not been balanced since 2020 due to the Covid-19 pandemic, the war in Ukraine and the energy crisis, all of which had driven up debt and interest payments. "That is precisely why it is so important to return to a balanced budget by 2027, and why we must be willing to cut spending and make difficult decisions," he said.
Weyts accused Vlaams Belang of opposing both spending cuts and other budgetary measures. "They need to make up their minds: either debt and interest costs are a problem, in which case we must act decisively as this Flemish government is doing, or we can pretend that no painful measures are needed. But then they shouldn't complain when debt and interest costs continue to rise."
#FlandersNewsService | © BELGA PHOTO NICOLAS MAETERLINCK
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