Budget highlights

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During the years 2017 till 2019 the Flemish budget had a surplus in realization. 2020, on the other hand, was a more difficult year due to the COVID pandemic. To cope with this exceptional crisis the Flemish Government took different measures to support the Flemish people and economy, which lead to a budget deficit in 2020.  In the 2nd budget adjustment 2020 there was a budget deficit foreseen of 6.86 billion euro while in realization the provisional result is a deficit of 6.15 billion euro.

Also for 2021 a deficit is foreseen. In the initial budget 2021 there’s a deficit of 2.3 billion euro.

To determine the budget balance the difference between the ESA revenues and ESA expenditures is calculated. The result of this calculation will be the fiscal balance of the Flemish Community. On this balance will be made a few corrections to come to the above mentioned deficit. The first correction is the underutilisation in the budget. A second correction concerns the ESA-corrections due to the stricter European surveillance. The last correction is for the building cost of Oosterweel.

 

IB 2021

Consolidated ESA-revenues (1)

46,223,377

Consolidated ESA-expenditures (2)

 49,930,828

Consolidated ESA-result (3=2-1)

-3,707,451

Under utilisation (4)

     1,227,181

Consolidated ESA-result after under utilisation (5=3+4)

- 2,480,270

ESA corrections (6)

- 5,811

Corrected budget balance (7=5+6)

- 2,486,081

Oosterweel project (8)

      146,086

Balance after corrections (9=7+8)

- 2,339,995

(in thousand euro)

 

On the initial budget 2021 there were some amendments for a total amount of 991 million euro. The main part of this amount is a result of the prolongation of the lock down measures to cope with the COVID pandemic. As a result the deficit will further increase to 3.3 billion euro.

In the text below you’ll find the full general report on the initial budget 2021.