748 million euro missing in Belgian social security system

The deficit increased more than expected. De Tijd reported on Friday (1 July) that the deficit has increased by 229 million euro more since a budgetary review last April. The figures are included in a report from the Social Security Management Committee.

The unexpected deficit is mainly due to a shortfall in revenues from social contributions and alternative financing from taxation. There are also more expenses than foreseen because of early retirement.

The social partners have eroded the system, says member of parliament Jan Spooren and advocates further reforms. The focus should be on assisting people to return to the labor market.

The Brussels Times (Source: Belga)

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