Belgium's Budget Deficit Hits 5.2% of GDP, BNB Urges Binding Fiscal Framework

The National Bank of Belgium (BNB) reports the country's budget deficit reached 5.2% of GDP in 2025, with the primary balance swinging from a surplus of nearly 7% of GDP to a deficit of nearly 3%, a level unseen since the early 1980s. The BNB calls for a binding national budgetary framework to address the widening regional and federal deficits. This deterioration signals fiscal stress in a core eurozone member, potentially complicating EU fiscal rule compliance and adding to sovereign debt concerns.