The Flemish Community estimates the funding needs at 9.0 billion euros for 2026 and 6.4 billion euros for 2027.
The total funding needs of the Flemish Community are twofold: new financing needs & refinancing requirements.
New financing needs
The new funding needs remain high for the upcoming years: 6.0 billion euros in 2026 and 5.0 billion euros in 2027.
Refinancing requirements
External redemptions amount to 2.8 billion euros in 2026, including 1.5 billion euros of outstanding Belgian Commercial Paper. Internal redemptions are expected to be reinvested in the Flemish Community by the consolidated public institutions.
Funding Needs
As of 31 December 2025. In millions of euros.
Repayment schedule direct debt
The graph below shows the refinancing requirements based on the repayment schedule of the outstanding direct debt. The Flemish Community aims to develop a reference benchmark curve.
As of 31/12/2025. In millions of euros.