Belgium is shackled with a political system plagued by dysfunction and is spending beyond its means, putting it on a path of ever-increasing debt.
With a population the size of Ohio’s and a slightly smaller gross domestic product, the lack of restraint overshadowing the country’s public finances increasingly resembles that of the world’s biggest economy, but without the impunity that comes with printing the dollar.
As with the US, investors appear unfazed at its borrowing binge. But Belgium, heading into elections in June, is on track to run western Europe’s worst deficits for years to come, a standout status that may become a test of the bloc’s resolve to reimpose fiscal discipline.
Source link : https://www.bloomberg.com/news/articles/2024-05-09/belgium-is-set-to-run-western-europe-s-worst-deficits-for-years-to-come
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Publish date : 2024-05-09 07:00:00
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