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Wallonia would have positive elements to maintain its rating with Moody’s

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“In view of the 2023 budget and the management of the year 2022, we have positive elements to put forward to maintain our rating” with the rating agency Moody’s, said Walloon Budget Minister Adrien Dolimont. first day of budgetary discussions in committees of the Walloon Parliament.

The verdict from Moody’s – which had downgraded the Region’s rating last year, taking it from A2 to A3 while nevertheless giving it a stable outlook – is expected in a fortnight.

“This rating conditions investors’ interest in the Region and therefore indirectly the cost of our borrowings. In this complicated time, it is important to guarantee the attractiveness of Wallonia on the markets. Not to please agencies or the market but to guarantee transparency and have the financial means to carry out the policies of the Region”, detailed Minister Dolimont.

“During discussions with Moody’s last September, we were able to demonstrate that the commitments made have been kept and even reinforced by objectives in line with the needs and constraints of Wallonia”he added.

Structural savings of 250 million euros have thus been confirmed in the 2023 budget, of which 97 million come from the credits granted to the Morreale cabinet; 43 million from credits to the Borsus cabinet; 35 million to the Collignon cabinet; 23 million at Dolimont, 22.9 million at De Bue, 22.4 million at Henry; 3.5 million at Tellier and 2.4 million at Di Rupo.

As to gross balance to be financedit is now displayed at €3.131 billion, an improvement of one billion euros compared to the previous financial year; the SEC balance amounting to 2.57 billion, an increase of 500 million.

Discussed in committee this week, the Walloon budget will be voted just before the end of year celebrations.

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