Index/Europe/Belgium

🇧🇪

Belgium

BEL · EUR · 11.8M pop. · Rank #175

…Watchlist

Rating

Health Score™

42.1

Data source:

GDP

$0.89T

GDP Growth

+1.3%

Inflation

1.8%

Debt / GDP

122.3%

Fiscal Bal.

-5.8%

Reserves

—

Debt / GDP · history

37-year trend

▲ 0.0 (90d)

Debt Sustain.37

Fiscal Discipline39

Transparency74.1162218

Reserves35

ESG Readiness45.056952590499876

Governance76.1162218

Revenue Stab.59

Inst. Strength72

Risk profile · 6-axis

AI Executive Summary

Debt-to-GDP 122.3% — elevated.
Fiscal balance -5.8%.
Inflation 1.8% · Governance 76.1162218/100.

Treasury & Market Data · Live

BEL sovereign rates & fiscal series

European Central Bank· 2026-07-01

GOV_BOND_10Y

European Central Bank

10Y Sovereign Bond Yield

3.64%

as of 2026-07-01 · 12 pts

ECB_MRR

European Central Bank

ECB Main Refinancing Rate

2.40%

as of 2026-06-17 · 1 pts

Live News & Official Statements

BEL treasury & central bank feeds

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Debt Sustainability Analysis

DSA · TreasuryMarketCap™ model

critical

Gross debt / GDP

122.3%

Net debt / GDP

—

Primary balance

-5.8%

Implicit rate

0.00%

Nominal growth

1.3%

Debt-stabilising PB

-1.57%

on track

Projected 1Y debt

126.5%

Projected 5Y debt

-248.1%

r−g = -1.3 pp — favourable debt dynamics; nominal growth outpaces borrowing costs.
Fiscal position runs 4.2 pp ahead of the debt-stabilising level — creating headroom.
Gross debt at 122% of GDP is in the high-risk zone; rollover risk is elevated.

Redemption Profile · Maturity Wall

Upcoming debt maturities (USD bn)

No maturity data.

Document Intelligence

No document intelligence available yet for Belgium.

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Regional peers · Europe

Open comparison →

Country	Health	Gov	Debt/GDP	Growth	Risk
🇧🇪Belgium	42.1	76.1162218	122.3%	+1.3%	Watchlist
🇱🇮Liechtenstein	77.5	84.40599468333333	0.5%	+1.5%	Strong
🇳🇴Norway	74.5	86.39875916666666	25.5%	+1.1%	Strong
🇦🇩Andorra	70.1	76.990553	24.5%	+1.5%	Strong
🇮🇪Ireland	69.8	82.23539171666667	28.0%	+2.3%	Stable
🇩🇰Denmark	68.9	88.08472321666666	29.8%	+1.5%	Stable