household debts in Belgium

Gross debt in Belgium

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. Not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Belgium in the period from 1998 to 2022 was between 256.2 billion and 648.6 billion USD. The hightest level within the past 24 years was reached in 2021. However, the liabilities in 2022 have been only 608 billion USD The budget deficit in the same year was 22.5 billion USD.

Based on the number of inhabitants, this is a debt of 52,468 USD per person. For comparison, the average debt per person in the same year in the European Union was 31,253 USD.

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Gross debt of the last 24 years in billion USD

YearBelgium totalBelgium per capitaEU per capita
1998299.68 bn USD29,371 USD14,079 USD
1999289.15 bn USD28,275 USD14,032 USD
2000259.49 bn USD25,313 USD11,241 USD
2001256.19 bn USD24,905 USD11,263 USD
2002272.44 bn USD26,366 USD12,266 USD
2003323.37 bn USD31,165 USD15,295 USD
2004358.76 bn USD34,427 USD17,606 USD
2005366.98 bn USD35,022 USD18,337 USD
2006373.53 bn USD35,413 USD18,887 USD
2007411.24 bn USD38,702 USD20,910 USD
2008481.96 bn USD45,001 USD24,100 USD
2009484.31 bn USD44,858 USD25,376 USD
2010482.73 bn USD44,305 USD26,515 USD
2011541.64 bn USD49,069 USD29,254 USD
2012520.03 bn USD46,820 USD28,198 USD
2013550.41 bn USD49,322 USD30,008 USD
2014573.09 bn USD51,128 USD30,677 USD
2015486.52 bn USD43,154 USD25,944 USD
2016499.90 bn USD44,116 USD26,287 USD
2017512.94 bn USD45,093 USD27,108 USD
2018542.54 bn USD47,478 USD28,543 USD
2019523.06 bn USD45,528 USD27,264 USD
2020588.44 bn USD50,997 USD30,919 USD
2021648.65 bn USD55,952 USD33,827 USD
2022608.25 bn USD52,468 USD31,253 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Belgium       European Union

Budget deficit in Belgium

household debts in BelgiumThe budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurance, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money than at at the beginning, it is a surplus. If it is less, it is called a deficit.

The budget balance in Belgium in the period between 1998 and 2022 varied between -47.26 billion euros and +946.11 million euros. In 2022, Belgium reached a balance of -22 billion euros.

In ratio to population, this equals a new indebtedness of 1,939 euros per capita in Belgium in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.

Budget deficit and surplus in the last 24 years

YearBelgium totalBelgium per capitaEU per capita
1998-2,375.28 M USD-233 USD-398 USD
1999-1,637.81 M USD-160 USD-204 USD
2000-84.42 M USD-8 USD112 USD
2001946.11 M USD92 USD-299 USD
2002-219.28 M USD-21 USD-565 USD
2003-328.95 M USD-32 USD-840 USD
2004-588.24 M USD-56 USD-920 USD
2005-10,686.45 M USD-1,020 USD-822 USD
2006900.14 M USD85 USD-568 USD
2007308.91 M USD29 USD-360 USD
2008-5,666.70 M USD-529 USD-1,085 USD
2009-26,245.95 M USD-2,431 USD-2,021 USD
2010-19,679.09 M USD-1,806 USD-1,970 USD
2011-22,661.48 M USD-2,053 USD-1,463 USD
2012-21,425.58 M USD-1,929 USD-1,220 USD
2013-16,328.86 M USD-1,463 USD-1,027 USD
2014-16,358.88 M USD-1,459 USD-851 USD
2015-11,159.13 M USD-990 USD-574 USD
2016-11,250.64 M USD-993 USD-421 USD
2017-3,438.02 M USD-302 USD-263 USD
2018-4,726.60 M USD-414 USD-134 USD
2019-10,632.79 M USD-925 USD-191 USD
2020-47,259.78 M USD-4,096 USD-2,317 USD
2021-32,586.58 M USD-2,811 USD-1,852 USD
2022-22,475.76 M USD-1,939 USD-1,254 USD

(negative numbers = deficit)
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