Latest News:  
Beijing   Cloudy/Sunny    9 / 0   City Forecast

People's Daily Online>>World

S&P downgrades Belgium's credit rating


14:47, November 26, 2011

NEW YORK, Nov. 25 (Xinhua) -- The rating agency Standard & Poor's on Friday lowered Belgium's long-term sovereign credit rating from "AA+" to "AA", and gave a negative outlook.

The agency said in a statement that Belgium's already high government debt weakened the country's ability to finance. It anticipated that by the end of 2011, Belgium's net government debt will account for 93 percent of its total gross domestic product ( GDP).

Also, S&P is concerned that the slow economic growth also poses a threat to the country's budget situation. It projected Belgium's budget deficit in 2011 to be around 3.6 percent of its GDP.

The ability of Belgium's authorities to respond to potential economic pressures from inside and outside of Belgium is constrained by the repeated failure of attempts to form a new government, according to the statement.


Leave your comment0 comments

  1. Name


Selections for you

  1. Syrians demonstrate in support of president Assad

  2. Body insurance: World's most expensive legs and breast

  3. Rural dance teacher takes troupe to world stage

  4. Selected wonderful photos of 2011 from National Geographic

Most Popular


  1. Think competitively
  2. Public anger hits the roof
  3. Zero-sum mentality should be ditched
  4. US expected to contribute to Asian economy
  5. No end in sight for economic doldrums
  6. China supports UN green industry initiative
  7. It's proved a wise decision
  8. The role that US plays in Asia
  9. Addressing climate change
  10. Reviled 1 percent are not all wicked

What's happening in China

Cultural blackout

  1. Ministry works to hasten disaster relief
  2. Pension, medical insurance for clergy in Tibet
  3. Unity is the key for China's top private firms
  4. Ticket price hike raises debate over profit sharing
  5. Taxi cab recorders bring up privacy doubts

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival