Brussels debt could climb to 328% of revenue by 2031, study warns
A Federal Planning Bureau assessment says Brussels’ debt may reach 328% of its adjusted revenue by 2031, indicating high medium-term sustainability risk.
According to a Debt Sustainability Analysis released on 15 September 2026, the Brussels-Capital Region faces a high medium-term risk of debt unsustainability, with its debt-to-revenue ratio projected to rise from roughly 250% in 2025 to 328% by 2031. Wallonia is expected to reach a similar level of 327%, while the French Community also shows elevated risk. The 2026 Brussels budget records €6.622 billion in revenue against €7.613 billion in spending, creating a €957 million deficit and a total consolidated debt of about €15.65 billion.
Although the regional government aims for a balanced budget by 2029, the bureau’s July outlook still anticipates deficits of around €800 million in 2029 and €900 million in 2031 under current policies. High debt levels could increase interest costs and limit funding for key services such as public transport, housing and economic development. The trajectory will depend on future growth, revenue, spending, interest rates and any fiscal reforms.
Why it matters
The projected debt surge could limit Brussels’ fiscal flexibility and affect essential public services.
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