The Flemish debt will reach 55 billion by 2025. This is evident from an estimate by Minister of Budget Matthias Diependaele.
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Until recently, Flanders had a balanced budget and low debt every year. However, the corona crisis has derailed the numbers. In 2019, the debt was still 24 billion euros, or 5.10 percent of GDP. By 2025 that would increase to 10.26 percent. The Flemish debt ratio, the debt set against government revenues, will increase from 43.9 percent in 2019 to 103.3 percent in 2025.
“It is alarming that we are still saddled with an annual deficit of 2 billion euros due to the corona crisis,” says Diependaele. “That makes me decide that we must return to a balanced budget as soon as possible. By when depends on the further course of the crisis. ”
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