"National debt just shy of 120% of GDP in 2028"
Belgium’s national debt is set to rise to nearly 120% of national output by 2028. Figures from the government planning office suggest that if no action is taken budget deficits this year and next will total 5.7% and 5.4% of GDP or national output.
In subsequent years the deficit is set to spiral further, partly due to rising interest rates and the impact this has on servicing the debt. By 2028 interest payments of nearly 18 billion euros would be required. That’s 10 billion more than in 2022.
By 2028 Belgium’s national debt is set to rise to 119% of GDP. Last year it was only 105%.