The federal government ran a 7.1% budget deficit in 1992 at the time of the EU's Treaty of Maastricht, which established conditions for Economic and Monetary Union (EMU) that led to adoption of the common Euro currency on 1 January 2002. Among other criteria spelled out under the Maastricht treaty, the Belgian Government had to attain a budget deficit of no greater than 3% of GDP by the end of 1997; Belgium achieved this, with a total budget deficit in 2001 (just prior to implementation of the Euro) that amounted to 0.2% of GDP. The government has balanced the budget every year since, until 2009 where it ran a deficit of about $25 billion. Belgium's accumulated public debt remains high at 99% of 2009 GDP. A slight decrease in the accumulated public debt compared to GDP has been seen, however, thanks to a higher economic growth rate compared to the budget growth rate, which pushed the percentage from 99% of GDP in 2009 to 95% of GDP in 2011, a four-point decrease in two years, a feat rare enough to mention in the Western World.
the federal government ran a 71% budget deficit in 1992 at the time of the eu's treaty of maastricht which established conditions for economic and monetary union (emu) that led to adoption of the common euro currency on 1 january 2002 among other criteria spelled out under the maastricht treaty the belgian government had to attain a budget deficit of no greater than 3% of gdp by the end of 1997; belgium achieved this with a total budget deficit in 2001 (just prior to implementation of the euro) that amounted to 02% of gdp the government has balanced the budget every year since until 2009 where it ran a deficit of about $25 billion belgium's accumulated public debt remains high at 99% of 2009 gdp a slight decrease in the accumulated public debt compared to gdp has been seen however thanks to a higher economic growth rate compared to the budget growth rate which pushed the percentage from 99% of gdp in 2009 to 95% of gdp in 2011 a four-point decrease in two years a feat rare enough to mention in the western world