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Belgium has the largest budget deficit in the eurozone

Belgium has limited options for measures against energy prices due to budget deficit

Apr 16, 2026 13:55 61

Belgium has the largest budget deficit in the eurozone  - 1

Belgium has recorded the largest budget deficit in the eurozone in 2025, according to data from the International Monetary Fund, which increases pressure on public finances and complicates the debate on additional spending, Belga agency reported, quoted by BTA.

The deficit increased by 0.9 percentage points to 5.3% of gross domestic product, ahead of France, where it fell to 5.1%. The average level for the eurozone remains around 3%, in line with European budgetary rules.

The IMF does not expect a significant improvement in the short term. Under unchanged policies, Belgium's deficit is likely to remain above 5% in 2026-2027, placing the country among the worst performers in the eurozone.

Prime Minister Bart de Wever has repeatedly used this data to argue that there is limited scope for new spending, especially to ease rising energy costs for households and businesses.

However, this position is facing resistance within the ruling coalition. De Wever's partners in the "Reform Movement" have warned that they could block the government's work if an agreement on targeted energy support is not reached. Party leader Georges-Louis Boucher is pushing for measures to support households, making the issue a key political priority despite limited fiscal resources.

Several other parties are calling for targeted support measures.

According to calculations by the Belgian authorities, an additional 4.9 billion euros in savings or new revenues will be needed to comply with European deficit rules.

The situation presents the government with a difficult choice between fiscal discipline and social support, while credit agencies, including "Moody's", are closely monitoring the development of budgetary policy.