On 30 March, Belgium won the title of the country that has been the longest time without a government ? 290 days and counting - a distinction previously held by Iraq. Since elections on 13 June 2010, Flemish nationalists, who had prevailed in the Dutch-speaking Flanders region, and French-speaking Socialists, who led the polls in the Wallonia region, had been unable to form a new coalition government, with no sign of a deal to break the stalemate. In addition to the linguistic division which naturally splits the country, the political stalemate reflects rifts about the economic support provided by richer Flanders region to the poorer Wallonia via transfers of the social security system. However, as the deadlock enters its tenth month and debt woes cloud the Euro area, the necessity to form a functioning government is particularly high. In the meantime, a caretaker government, led by Prime Minister Yves Leterme, has successfully prevented the country from falling into chaos. In fact, the government managed to adopt a budget and now agreed to cut the fiscal deficit for this year to 3.6% of GDP, which was revised from its previous target of 4.1%. The Prime Minister stated that the proposed budget would be presented to parliament towards the end of April, with final approval expected by mid-May.
Political crisis reaches standstill record
March 30, 2011
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Belgium Economic News
October 21, 2016
The business confidence index produced by the National Bank of Belgium (NBB) rose from minus 2.2 points in September to minus 1.8 points in October.
Belgium: Business confidence recovers timidly but consumer confidence deteriorates further in September
September 23, 2016
The business confidence index produced by the National Bank of Belgium (NBB) rose from minus 3.1 points in August to minus 2.2 points in September.
September 23, 2016
In July, industrial production increased a seasonally-adjusted 1.9% over the previous month, which was above the 1.2% registered in June and represented a 6-months high.
August 31, 2016
In the second quarter of 2016, GDP increased a seasonally-adjusted 0.5% over the previous quarter, according to comprehensive data released by the National Bank of Belgium (NBB) on 31 August.
August 25, 2016
In June, industrial production increased a seasonally-adjusted 2.0% over the previous month, which contrasted the 0.4% contraction in May.