Minister of State for Budget Affairs: Long periods of current affairs will cost public finances dearly | Economy

There is a myth that current affairs are good for the budget. this is not true. “We cannot afford long-term problems because the costs of old age will continue to rise,” Bertrand told the social partners.

Budget deficit, debt ratio and costs of old age: Belgium has one of the worst students in Europe. A return to European fiscal discipline will require significant efforts. In the stabilization program sent to the European authorities, the structural balance should improve by 0.8 percent of GDP over the next two years and by 0.3 percent in 2026.

The foreign minister noted that from October next year, when the federal government resumes its budgetary work, an additional effort of €1.2 billion will have to be made.

De Croo’s government will convene at the weekend for a secret meeting on tax reform. Reform of the pension system is also expected.

Emphasizing some of her concerns, such as the budget neutrality of tax reform, Bertrand stressed that “significant reforms are needed to regulate the budget.”

As for pensions, “our challenge is absorption periods,” said Bertrand. More efficient work is needed and the actual retirement age should be closer to the legal age. We made a social correction at the beginning of the Legislative Council, which was necessary, but now we need real reform.