Belgium: public finances

What is the budget deficit of Belgium?

Belgium's general government deficit was 5.2% of GDP in 2025, up from 4.4% in 2024, according to the National Bank of Belgium. The bank attributes the widening mainly to a fall in the revenue ratio.

General government covers the federal state, the communities and regions, local authorities and social security. The NBB notes that interest expense rose for the fourth consecutive year and that local government deficits remained high in 2025. The IMF projects a deficit of 5.3% of GDP in 2026. The EU excessive deficit procedure uses these same national accounts figures.

Official sources: NBB: national accounts and government accounts, October 2026 · IMF DataMapper: government net lending/borrowing, Belgium

What is the national debt of Belgium?

Belgian public debt was 108.1% of GDP at the end of 2025, compared with 104.0% in 2024, according to the National Bank of Belgium. The Belgian Debt Agency shows federal government debt of €581,482,619,528 on 30 September 2026.

The two figures measure different things. The NBB ratio is the consolidated gross debt of all levels of government, as defined for EU reporting. The Debt Agency figure covers only the federal state's debt, which it manages, and is updated during the year. Regional and community debt is managed by those governments.

Official sources: NBB: government accounts, October 2026 · Belgian Debt Agency: federal government debt

How much tax does Belgium collect?

Taxes and social contributions in Belgium came to 44.6% of GDP in 2025, compared with 45.1% in 2024, according to Eurostat national accounts tax aggregates.

The measure adds taxes on production and imports, taxes on income and wealth, capital taxes and net social contributions, received by all levels of government and by EU institutions. The National Bank of Belgium compiles the underlying government accounts. Personal income tax rates and brackets are published by the FPS Finance.

Official sources: Eurostat: main national accounts tax aggregates

What is Belgium's debt to GDP ratio?

The IMF puts general government gross debt in Belgium at 107.9% of GDP in 2025. Since 2005 it has ranged from 87.3% of GDP (2007) to 111.4% of GDP (2020). Across Europe & Central Asia the middle value was 46.9% of GDP, and Belgium placed 4th highest of 51. Of 185 countries with 2025 data, 15th highest.

Does Belgium's government borrow more than it raises?

-5.2% of GDP: that is general government net lending or borrowing in Belgium for 2025, according to the IMF (a deficit). The peak was 0.2% of GDP in 2006 and the low -9.0% of GDP in 2020. It is 47th highest of 51 in Europe & Central Asia, where the median is -2.4% of GDP. Of 188 countries with 2025 data, 148th highest.

What is Belgium's government revenue?

According to the IMF, general government revenue in Belgium was 49.0% of GDP in 2025. Since 2005 it has ranged from 48.6% of GDP (2007) to 52.7% of GDP (2013). It is 8th highest of 50 in Europe & Central Asia, where the median is 41.3% of GDP. World rank, highest first: 19th of 187.

How big is Belgium's government spending as a share of GDP?

The latest figure from the IMF, for 2025, is 54.2% of GDP. The peak was 58.5% of GDP in 2020 and the low 48.6% of GDP in 2007. It is 5th highest of 50 in Europe & Central Asia, where the median is 43.3% of GDP. World rank, highest first: 13th of 186.

How much tax does Belgium collect?

In 2024, central government tax revenue in Belgium was 23.0% of GDP, according to the IMF. Its high point since 2005 was 2013, at 26.1% of GDP; its low point was 2020, at 21.7% of GDP. It is 13th highest of 42 in Europe & Central Asia, where the median is 20.8% of GDP. Of 92 countries with 2024 data, 21st highest.

What is Belgium's military budget as a share of GDP?

SIPRI puts military spending in Belgium at 2.0% of GDP in 2025. That is the highest since at least 2005. Europe & Central Asia median: 2.0% of GDP; Belgium is 27th highest of 46. Of 149 countries with 2025 data, 60th highest.