The budgetary balance amounts to -1.9 billion euros in the 2023 initial budget (IB). The Government of Flanders always aims for a balanced budget, the so-called balanced budget target. However, due to its efforts to contain the coronavirus pandemic, the Flemish government was not able to meet this target in 2022.
A number of corrections are applied to obtain the corrected ESA budget balance (-2.9 billion euros):
- corrections for expected underutilisation (1,390.3 million euros):
- university colleges and universities (243 million euros)
- other types of underutilisation (1,147.3 million euros)
- additional ESA corrections (997.7 million euros)
A few specific items are excluded from the balanced budget target:
- the construction costs of the Oosterweel link (0.3 billion euros)
- revenues from the Flemish Resilience recovery plan (0.5 billion euros)
- expenditures for the Flemish Resilience recovery plan (1.1 billion euros)
That results in the budgetary balance compared to the balanced budget target (-1.9 billion euros).