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    March 22nd attacks cost Belgium nearly a billion euros

    © Belga
    The economic and fiscal cost of terrorism.
    © Belga

    The March 22nd Brussels attacks came at a cost of nearly a billion euros to Belgium. This is reported in La Dernière Heure, Het Laatste Nieuws et De Morgen today (Tuesday). Their accounts are based upon the first report of the FPS Economy on this subject.

    Brussels recorded a turnover of 122.5 million euros lower in the first quarter of this year. Correspondingly, Flanders and Wallonia saw turnover decreases of 33 million euros and 20 million euros respectively, in the same period. Furthermore, government tax revenues decreased by 760 million euros following the attacks, according to the FPS Economy. The total amount represents approximately 0.1% of GDP (in the first quarter of 2016).

    “This is the first study of its kind upon the economic impact since the Paris attacks which occurred in November 2015. It is very important to carry out this kind of objective study.” This point is noted by the Minister for the Economy, Kris Peeters, (of the Flemish Christian Democrats), who considers that the government has “implemented all possible means to assist businesses.”

    Lars Andersen
    The Brussels Times