The rating agency Standard & Poor’s (S&P) has welcomed in its report of July 2017 the “very efficient” financial management of the Brussels Region and gave it an ‘AA’ rating, adding that the outlook remains stable.
S&P said: “in our opinion, the Belgian Region of Brussels-Capital has highly efficient financial management and a very favorable liquidity position”.
Brussels Finance and Budget Minister Guy Vanhengel commented: “The report confirms that in terms of budgetary management and financially we continue to do a great job”.
This “firstly reflects the fact that very effective financial management allows to maintain the planned large investments from 2017 to 2019, to limit the accumulation of the debt and to continue the position of favorable liquidity”, added the minister.
S&P says the stable outlook reflects expectation that Brussels-Capital will continue to post strong budgetary performance in 2017-2019
The main rating factors are unchanged compared to the January 2017 report.
S & P regularly reviews the economic and financial situation of the states and communities it assesses. On 14 July, the rating agency confirmed the “AA” rating of the Belgian State, with a “stable outlook”. “We expect reforms to continue to support growth, although fiscal consolidation could be hampered by the approach of municipal, regional and federal elections in 2018-2019,” S & P wrote in a statement.
“The balance sheets of the private sector, employment and investment spending remain strong,” noted the financial appraisal agency which still referred to “balanced risks” for the solvency of Belgium.