(Bloomberg) -- Belgium’s central bank said the country’s public finances “remain a cause for concern” and that the fiscal outlook “is far from rosy.” Commenting in a report published Wednesday, the institution highlighted that by 2025 only Slovakia is expected to have a larger budget deficit than Belgium. “This does not mean that there are immediate refinancing risks, but Belgium is among the countries presenting the greatest risk to the medium-term sustainability of its public finances,” it said. “Bringing the debt ratio down to a more sustainable level will require a significant reduction in the budget deficit.”

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