The Flemish Community estimates the funding needs for 2022 at 6.6 billion euros.
The total funding needs of the Flemish Community are twofold:
Omhoog
new financing needs
The new funding needs remain high for the upcoming years: 4.3 billion euros in 2023 and 3.9 billion euros in 2024.
refinancing requirements
External redemptions are low until 2024. Internal redemptions are expected to be reinvested in the Flemish Community by the consolidated public institutions.
Funding needs (2022-2026; in millions of euros)
| 2022 | 2023 | 2024 | 2025 | 2026 | |
| Flemish Social Housing Company (VMSW) | 612.14 | 614.80 | 838.12 | 838.12 | 809.59 |
| Flemish Housing Fund (VWF) | 860.55 | 831.67 | 848.60 | 864.99 | 884.20 |
| School Invest | 72.18 | -1.79 | 0.00 | 0.00 | 0.00 |
| Lantis (BAM) | 125.00 | 400.00 | 425.00 | 450.00 | 500.00 |
| Deficit | 2,244.11 | 1,488.10 | 954.01 | 741.82 | 393.55 |
| Recovery plan | 1,178.35 | 714.93 | 549.29 | 105.50 | 32.55 |
| ESA 8 | 791.56 | 300.00 | 238.00 | 238.00 | 238.00 |
| Total new funding | 5,883.89 | 4,347.71 | 3,853.02 | 3,238.43 | 2,857.89 |
| Internal redemptions | 547.35 | 74.05 | 0.48 | 0.00 | 0.00 |
| External redemptions | 150.74 | 14.24 | 14.00 | 640.49 | 787.39 |
| Total | 6,581.98 | 4,436.00 | 3,867.50 | 3,878.92 | 3,645.28 |
The graph below shows the refinancing requirements based on the repayment schedule of the outstanding direct debt. The Flemish Community aims to develop a reference benchmark curve.
Repayment schedule direct debt (as of 31 December 2021; in millions of euros)
