Bloomberg News

Belgian Regions Must Run Surpluses to Balance Books, Coene Says

November 04, 2011

Nov. 4 (Bloomberg) -- Belgium’s regional governments should run budget surpluses by 2015 or risk putting the country’s social security in question, National Bank of Belgium Governor Luc Coene said in a radio interview.

A recent overhaul of the rules governing the distribution of tax revenue will leave the country’s federal government to shoulder most of the additional expenses due to an aging population, making regional budget surpluses a condition for Belgium to reach its goal of a budget surplus in 2015, Coene said today on VRT-Radio 1.

--Editor: Jones Hayden

To contact the reporter on this story: John Martens in Brussels at jmartens1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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