Social security deficit up despite EUR 1.5b in aid

9th March 2005, Comments 0 comments

9 March 2005, BRUSSELS – Social security coffers will face a EUR 1.68 billion deficit by 2008, according to new figures.

9 March 2005

BRUSSELS – Social security coffers will face a EUR 1.68 billion deficit by 2008, according to new figures.

The statistics, forecast by the National Social Security Office (ONSS), show that debts will mount steadily over the next few years.

A deficit of EUR 238 million has already been predicted for 2006, rising to EUR 726 million by 2007.

The figures take account of the EUR 1.5 billion support received annually from the government.

Rising health costs have been blamed for the deficit.

The ONSS has said social security payments will have to rise annually by 2 percent and health costs by 4.5 percent above inflation to tackle the shortfall in funds.

[Copyright Expatica 2005]

Subject: Belgian news

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