The Return of the Deficit

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Prior to the outbreak of the financial crisis in 2008 Belgium's fiscal balances and debt ratios seemed to be on a firm consolidation path. Today, however, Belgium is facing a major budgetary challenge, albeit to some extent lesser than that of other European countries. This book offers a closer look at the evolution of public finance in Belgium over the decade 2000-2010. It covers Belgium's macro-economic environment, its budgetary policy, changes to the tax system and social security, the evolution of public expenditure, debt management, and fiscal federalism.