Young Belgians face debt crisis

16 November 2004

BRUSSELS – Tens of thousands of young Belgians are getting into debt, it emerged on Tuesday.

Belgium’s National Bank said 20,600 people aged between 18 and 25 were in debt in 2003.

The Flemish daily newspaper De Morgen reported that Belgium is not the only western country where young people increasingly owe money.

It said the trend was probably due to the easier access to credit and more and more people getting mobile phones.

The news may come as a particular surprise to Belgians, however, who are known to be a nation of savers.

[Copyright Expatica 2004]

Subject: Belgian news