New Flemish government inherits 600 million deficit in budget
Wednesday, 29 May 2019
The new Flemish government, to be led by N-VA’s Bart De Wever, will have to look for over 600 million euros next year to re-balance the Flemish budget, according to internal calculations by the Flemish government.
Several months ago, the then-Minister for the Flemish Budget Bart Tommelein (Open VLD) announced that the next Flemish government could spend an extra 1 billion euros by the end of its governing term in 2024, if the government continued its former policy.
However, those predictions are no longer accurate, reported De Tijd earlier in May. The deficit also became apparent during internal preparations for Flemish government negotiations.
There are several reasons why the promised 1 billion euros has disappeared in the meantime. The lower economic forecasts of the Planning Office weigh on the expected receipts, and some tax revenues are also lower than expected.