You're reading: EU criticizes Belgian budget, sees more austerity

BRUSSELS — A person close to the Belgian government says the European Commission has criticized the country's 2012 budget as too optimistic.

The person said Friday that the Commission believes the government won’t be able to cut its deficit to the promised 2.8 percent without further austerity measures.

The person was speaking on condition of anonymity because the exchange of letters between the government and the Commission was still in an informal phase.

Belgium has one of the highest debt loads in the eurozone and analysts fear that it risks being dragged into the currency union’s debt crisis.

Under EU rules, Belgium has to bring its deficit below 3 percent of GDP.