Belgium's debt, exceeding 100% of GDP, rises due to political dysfunction; EU scrutiny and potential fines loom by 2029.
Belgium's debt, exceeding 100% of its GDP, is rising due to political dysfunction and increasing borrowing, mirroring the US trajectory without a dollar-backed economy. Its fragile political setup, marked by regional divisions, has hampered efforts to fix public finances. As debt rises by 10% by 2029, the EU may scrutinize Belgium and potentially impose fines and increased pressure to act.
May 09, 2024
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