by Emmanuel Vanbrussels
published on Wednesday November 8, 2023 to 12:11 •
4 min read
Pension expenditure in Belgium will increase faster in the coming decades than in most European countries. This is stated in a study by the National Bank (NBB).
Why is this important?To stop the derailment of the Belgian national debt (currently 104 percent of GDP), the budget deficit must be reduced. “This task seems impossible without significantly reducing the expected increase in pension expenditure relative to GDP,” the National Bank writes.
In the news: The National Bank’s experts compare, based on previous reports from the European Commission and the Study Committee on Aging, how Belgian pension expenditure will evolve compared to that in reference countries such as the Netherlands and Germany. The conclusion: Belgium is one of the euro countries where pension costs will rise the fastest in the coming decades.
Graphic: When you compare the expected pension expenditure with the expected gross domestic product
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Tags: Belgium control pension expenditure neighboring countries