Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Belgium to Miss Deficit Target on Recession, Coene Tells L’Echo

Don't Miss Out —
Follow us on:

Aug. 10 (Bloomberg) -- Belgium’s budget deficit will miss the 2012 target and exceed the European Union’s ceiling of 3 percent of gross domestic product as the economy slides into a recession, Belgian central bank Governor Luc Coene told L’Echo.

Belgium’s economy will probably shrink this year, pushing the budget deficit “slightly above” 3 percent of GDP, the newspaper cited Coene as saying in an interview published today. Following a 0.6 percent economic contraction in the second quarter, the remainder of the year will likely be “more negative than positive,” Coene said, according to L’Echo.

Coene urged Prime Minister Elio Di Rupo’s government to cut spending, saying expenditure growth that is outpacing economic expansion is one of the key structural weaknesses of Belgian public finances, the newspaper reported. Belgium should be “very careful” not to get caught up in the turmoil of the debt crisis again, Coene told L’Echo.

To contact the reporter on this story: John Martens in Brussels at

To contact the editor responsible for this story: Jerrold Colten at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.