Belgian Prime Minister Resigns Amid Budget Deadlock as King Initiates Party Talks

Belgium’s Prime Minister Steps Down Over Budget Dispute

According to Рубрика — Політика: On November 2, Belgian Prime Minister Bart De Wever submitted his resignation to King Philippe following a failure within the coalition to reach an agreement on the national budget for the upcoming year. The king has yet to accept the resignation and began consultations with coalition party leaders starting November 3. A subsequent meeting between the king and the prime minister is scheduled for November 6.

Negotiations over Belgium’s budget have stalled for several weeks, primarily due to disagreements between the Flemish socialists of the party "Forward" and the French-speaking Reformist Movement. The socialists advocated for increased taxes on the highest income earners, but their proposals, including a major reform of the value-added tax, were rejected by coalition partners. The latest round of talks involving the government’s five parties took place from October 31 to November 1 but ended without resolution. Parliament aims to approve the budget by the end of 2024.

Belgium’s Handling of Frozen Russian Assets

Meanwhile, Belgium continues to hold the majority of frozen Russian assets in the Euroclear depository since Russia’s invasion of Ukraine. In October 2025, Belgium blocked a proposed €140 billion reparations loan to Ukraine, which was intended to be financed through returns on these frozen assets. The Belgian government demanded stronger safeguards against potential liabilities arising from using these assets to fund the loan. There are concerns Belgium could become a primary target for legal actions and financial retaliation from Russia.

Bart De Wever criticized the confiscation of Russian assets, describing it as "an act of war." Amid significant geopolitical uncertainty and serious economic challenges, King Philippe has urged all parties to act responsibly and seek compromise.

"The country cannot afford a prolonged political crisis and calls on everyone to prioritize the public interest." Belgian Royal Palace

The current political impasse highlights the complexity of decision-making in Belgium’s government, especially regarding budget discussions and financial resource allocation. The ongoing uncertainty in the budget process could have substantial economic repercussions for the country, particularly given the broader global financial challenges.

Additionally, the issue of frozen Russian assets and their potential use to fund international commitments, such as aid to Ukraine, remains highly sensitive. Failure to resolve this matter soon may lead to further legal and political complications for Belgium.