Arab Today, arab today belgium will freeze spending to appease eu
Last Updated : GMT 15:30:37
Arab Today, arab today
Arab Today, arab today

Belgium: will freeze spending to appease EU

Arab Today, arab today

Arab Today, arab today Belgium: will freeze spending to appease EU

Brussels - AFP

Belgium will freeze more than a billion euros ($1.3 billion) in spending for several months after the European Commission raised concerns, the country\'s budget minister said on Saturday. The commission, the European Union\'s executive body, has rejected Belgium\'s 2012 budget as overly optimistic, and demanded it shave off 1.2 billion to 2.0 billion euros to avoid breaching the three percent deficit threshold. \"The commission has given us the choice to either come up this weekend with savings of 1.2 billion euros, which we refused to do, or to freeze some of our spending over a period of several months, which is what we have opted for,\" minister Olivier Chastel told RTL-TVI television. In a letter sent Thursday to Belgian Finance Minister Steven Vanackere, the commission said Belgium should \"in the coming days\" agree to pare down the budget by about 1.2 to 2.0 billion euros. \"This would allow us to conclude ... that Belgium has undertaken the required fiscal effort,\" it said, demanding a response by Monday morning at the latest. Under new rules agreed in December that give the commission added powers to enforce budgetary discipline, infringement of the three percent deficit ceiling can set off a quick train of action including fines and judicial penalties. The commission last year singled out Belgium and four other EU nations -- Hungary, Poland, Cyprus and Malta -- as possibly failing to meet the target. It will issue a statement on January 11. Chastel said the freeze will not influence budget decisions to be taken by the government next month. RTL said the main target of the savings freeze will be some 400 million euros destined for the railways. The defence department will also have to delay the purchase of helicopters because of a freeze on some 177 million euros. The Belgian budget, based on a 0.8-percent growth rate, forecasts a 2.8 percent deficit after sweeping cuts of 11.3 billion euros aimed at avoiding a no-policy-change deficit that could have run up to 4.6 percent of gross domestic product (GDP). But commission experts believe Prime Minister Elio Di Rupo\'s government was over-optimistic on expected savings, notably in healthcare, and on expected revenues from the fight against tax evasion.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today belgium will freeze spending to appease eu Arab Today, arab today belgium will freeze spending to appease eu

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:03 2017 Thursday ,23 March

Spider Venom May Offer Hope to Stroke Victims

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday