Budget in jeopardy because of Oosterweel, say auditors
The Court of Auditors says that Flanders balanced budget is in jeopardy because of Antwerp’s Oosterweel link project, which will cause hundreds of millions in deficits by 2018
Long-term view
Last month, the government of Flanders announced that it had achieved a balanced budget for the coming years and possibly would see small surpluses. Those predictions, according to the Court of Auditors, are only possible if the costs of the Oosterweel link, amounting to at least half a billion euros a year, are kept out of the picture.
The government has previously said that it regards Oosterweel as an investment that will pay for itself. But the toll income with which the investment will be paid back, the court says, will only start coming in after 2022, outside the scope of budget forecasts.
The government has forecasted a balanced budget in 2017 and 2018, while the court reckoned, all financial activities taken together, on a deficit of €136.3 million in 2017, rising to €941 million in 2018.
Photo courtesy BAM
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