Belgium’s net debt exceeds pound 500bn by end of June

BRUSSELS: The net debt of the Belgian government at the end of June 2024 amounted to pound 501.394 billion. The Belgian Debt Agency stated in a report that, in net terms (after deducting placements and securities held in the portfolio), the federal government's debt increased by pound 4.02 billion compared to last May. The net balance to be financed amounted to pound 4.012 billion (to the detriment of the Treasury). It is noteworthy that the Belgian government's debt exceeded the pound 500 billion threshold for the first time in March, before dropping below it again in April. The agency clarified that, in gross terms, Belgian debt remains above half a trillion euros at pound 521.609 billion, which represents a decrease of pound 11.50 billion since last May. The average maturity of the federal government debt decreased by 0.12 years to 10.64 years, while the average interest rate of the debt instruments remained stable at 1.94 percent. The 12-month and 60-month refinancing risks amounted to 13.74 percent a nd 38.12 percent, respectively. Source: Emirates News Agency