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Walloon promises economic recovery plan

Published on 28/06/2005

28 June 2005

BRUSSELS — The Walloon government has announced it will launch a massive economic recovery plan after the summer.

Wallonian Prime Minister Jean-Claude Van Cauwenberghe announced the plan on Tuesday.

Van Cauwenberghe said training and jobs growth will be strong elements to the plan. Instead of an across-the-board plan, the Wallonian government will identify priority targets.

Money will also be invested in previous initiatives and Van Cauwenberghe said hundreds of millions of euros will be used from the Wallonian’s government’s budgetary reserves.

The prime minister said Walloon will not request extra financial help from the federal government, stressing that the region should form its own economic policy, broadcaster VRT reported.

The French-speaking part of Belgium is stagnating economically and Francophone Socialist PS Elio Di Rupo call recently for a ‘Marshall Plan’ to inject vigour back into the Wallonian economy.

Heavy industry has been declining for decades across the nation’s industrial heartland. Financial transfers from the more economically vibrant Flanders region are said to be propping up Wallonian prosperity.

[Copyright Expatica News 2005]

Subject: Belgian news