Bloomberg reporting.
Belgium’s budget plan for 2012 has been rejected by the European Commission, which called its’ projections overly optimistic. The Flemish paper cites a letter sent to the government from Commission.
Budget forecasts deficit of 2.8% of GDP based on projected economic growth of 0.8%, while Commission predicts a deficit of 3.1% of GDP with that growth figure.
Belgian must bring budget shortfall below 3% of GDP this year.
Personally I’d have rejected it on the preposterous growth forecast of 0.8% alone
