On June 13, 2025, Standard & Poor's will announce whether it will maintain or downgrade the financial rating of the Brussels-Capital Region amid ongoing political turmoil.

The new financial rating will be revealed in the evening, coinciding with a challenging economic landscape characterized by declining financial conditions.

The absence of a fully functioning government for over a year, coupled with high debt levels, are significant factors that could negatively influence the rating agency's decision.

Currently, the budget is projected to yield a deficit of €1.426 billion, prompting discussions on necessary budgetary measures to address this shortfall.

In response to the financial challenges, Minister of Finance Sven Gatz is considering conservative measures and an emergency budget to reduce the deficit to €1.2 billion.

Opposition parties are advocating for immediate and significant budget cuts, criticizing the current coalition government for inadequate budgetary reforms.

Concerns about a potential downgrade have been raised by right-wing and centrist opposition parties, which could affect future borrowing costs for the region.

Three scenarios are possible for the upcoming rating announcement: maintaining the current rating, changing the outlook to negative, or downgrading the rating to A.

Standard & Poor's had previously downgraded Brussels' rating from AA- to A+ in March 2024, following a negative outlook issued in September 2022.

At that time, the agency had included a stable outlook, indicating no immediate risk of further downgrade, but the current situation may alter that assessment.

Brussels' consolidated debt surged to €13 billion by the end of 2023, largely due to the financial repercussions of the COVID-19 pandemic and the 2022 energy crisis.

Forecasts suggest the region's debt could escalate to €16.13 billion in 2025, representing a staggering 244% of its revenue.