"All budgets should be balanced by 2015"

The High Council of Finance (HRF), which acts as the budget watchdog for the different governments in Belgium, advises Flanders, Brussels, Wallonia and the federal government each to have a balanced budget in 2015. It's the federal government that will have to make the biggest effort.

The HRF previously suggested that the regional governments should make a major contribution of 35 percent to help balance the federal budget, without having a deficit themselves in the meantime.

However, the HRF has now changed this advice. Everyone should do his own homework. This means that the federal government will have to account for 90 percent of the budget effort instead of 65 percent.

In actual figures, the federal government is facing an uphill battle to find 10.5 billion euros in the next three years. This is 3 billion more than under the previous HRF advice.

The regional governments will each have to come up with 0.8 billion to get their budget balanced.