Flemish Government balances budget after growth forecast is adjusted

28 February 2012

Today the Flemish Government reached an agreement on a total of EUR 560.8 million in additional savings for 2012. This will allow the Flemish Government to rebalance the budget for 2012. This change is the result of the adjustment made to the economic growth forecast and means that Flemish public finances will be able to hold their own should economic storm clouds gather on the horizon. This also means that the Flemish Government will be able to preserve the lion’s share of its new 2012 policy agenda, and decisions were also made that will have a positive effect in the future. The Flemish Government is moving forward with planned investments as well as the new policy agenda in order to stimulate over the long term the sustainable growth of the Flemish economy, even in these tight budgetary times. As was agreed to when the 2012 budget was being drawn up, the new initiatives remain intact, even in the wake of this budgetary adjustment. The only initiative that was postponed was the transition to a renewed social policy. The Flemish Government is making a total of EUR 200 million available for new policy initiatives. A balanced Flemish budget is the best way to guarantee that Flanders does not end up getting unnecessarily saddled with future financial burdens.

How valuable did you find this article?

Enter your personal score here
The average score is