Fitch Ratings has confirmed Belgium's long-term issuer default rating at A+ with a stable outlook, highlighting the country's diversified and prosperous economy, high per capita income, and membership in the Eurozone. However, the agency noted challenges posed by a significantly high and rising public debt, which reached a debt-to-GDP ratio of 107.9% in 2025 and is projected to exceed 115% by 2030 without further budgetary reforms. The budget deficit is expected to widen to 5.2% of GDP in 2025, the largest in the Eurozone, primarily due to declining corporate tax revenues and increased defense and social spending. Fitch forecasts that Belgium's real GDP growth will slow to 0.8% in 2026, influenced by rising energy prices stemming from the ongoing conflict in Iran. The inflation rate stood at 4.3% in April, largely due to energy costs. The Belgian government is also exploring the repurchase of its nuclear power plants from the French utility company Engie while continuing structural reforms in labor and pensions, though the economic impacts of these reforms are expected to materialize only in the longer term.