The Cash, Debt and Guarantee Management Report 2022 from the Department of Finance and Budget provides an overview of the cash, debt, and guarantee management of the Flemish government in 2022.
2022 was another very challenging year. The aftermath of the COVID-19 pandemic was immediately followed by a new crisis caused by the war in Ukraine. These crisis situations had a significant impact on the budget balance and the evolution of debt.
The report covers the following aspects:
- Net financing requirement (NFR): 4.053 billion euros in 2022.
- Direct debt: 21.850 billion euros at the end of 2022, a strong increase of 4.034 billion euros or 22.64% in relative terms compared to the end of 2021.
- Consolidated debt: 36.465 billion euros at the end of 2022, an increase of 3.021 billion euros compared to the end of 2021.
- Guaranteed debt: 11.547 billion euros at the end of 2022, a significant decrease of 771.91 million euros compared to the end of 2021. 9.621 billion euros of the guaranteed debt is included in the consolidated debt.
- Rating: Fitch confirmed the AA rating of Flanders, the highest of all Belgian regions and communities.