Europe ratifies 2016 budget proposal

The European Commission has ratified the federal budget proposal for 2016. It is of the opinion that it is globally in agreement with the stipulations imposed by the Stability and Growth Pact. “In this way, Europe is confirming that Belgium has broken fresh ground with its new government,” said Minister of Finance Johan Van Overtveldt. “Our job now is to stay on track with this budget during the coming years.”

Until last year, the deficit still exceeded three percent, and additional measures were necessary. “Now we have succeeded in staying below that threshold for the first time,” said Johan Van Overtveldt. “We are achieving the biggest structural improvement in the eurozone.”

Balance in 2018

This government must keep the budget on track under difficult circumstances, in times of uncertain external factors such as the asylum crisis and terrorist threat. “The goal remains to reach a balance by 2018, and at the same time further execute the Tax Shift so that the labour charges decrease further and the Competitiveness The extent to which companies in one country can compete with similar companies in another country. A law came into force in Belgium in 1996 to monitor competitiveness. This stipulates that Belgian salaries may not evolve faster than the average of those in the three neighbouring countries. The Central Economic Council (CEC) performs an annual measurement to see if the objectives have been obtained. competitiveness of our companies continues to increase,” Minister Van Overtveldt concludes.