Wallonie Region Funding Gap Analysis
Focus on Region's funding gap (initial & with COVID-19 effect)
Wallonie
service public
SPW
Funding gap evolution over 2018-2020
Funding Needs 2020 (initial)
In EUR million
2018
(1)
2019
2020
(EUR million)
(2)
(3)
Revenues (excl. proceeds
Funding gap (*)
8,063.93 11,313.44 12,836.89
from borrowings)
Expenditures (incl.
9,447.63 13,589.39 15,628.72
Amortization of matured debts
Funding needs
-2,050.03
-741.80
Funding gap (1)
Amortization of matured debts
-2,791.83
Initial COVID-19 expenditures
amortizations)
Funding needs
-1,383.70 -2,275.95 -2,791.83
(1)
2018 figures are confirmed (executed)
(2)
2019 figures are still provisional (to be confirmed)
(3) 2020 figures are budgetary-based, with significant buffer in
expenditures and before zero-based budgeting exercise (definition
slide 12) -
Budget buffer 2020 (initial)
Pre-financing in 2019
Up-to-date financing in 2020
Residual funding needs
281.00
Funding needs
Budget buffer 2020 (initial)
Funding Needs 2020 (incl. COVID-19)
(EUR million)
-2,050.03
-741.80
-1 500.00
-4,291.83
281.00
150.15
Pre-financing in 2019
150.15
1 304.00
Up-to-date financing in 2020
4 014.00
-1 056.68
(*) including EUR millions 350.00 for Transition
Investment Plan
Residual funding needs
(1) EUR 350 million for Transition Investment Plan
allocated to cover initial COVID-19 expenditures
(156.32)
□ Significant increase of expenditures in 2019 versus 2018, due to the impact of the 6th reform (transfer of competences in health sector
and family allowances), preventing a planned return to the equilibrium for the ESA 2010 budget balance.
☐ Significant reduction of forecast revenues planned for 2020 due to non-compensated impact of the tax shift measures implemented at
Federal State level.
COVID-19 pandemic and unprecedented related economic crisis will inevitably affect funding needs of Région wallonne in 2020.
When looking to COVID-19 related expenditures and impact on 2020 regional revenues, additional funding needs are currently
estimated to EUR 1,500 million (taking into account Belgian GDP decrease around 8% - latest numbers available from National Bank of
Belgium), of which EUR 700 million are already Social Bond qualified eligible expenditures (cf. pages 25 to 28) .
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