BRUSSELS, Nov. 2 (Xinhua) -- Belgian Prime Minister Bart De Wever tendered his resignation on Monday after budget talks failed, the Royal Palace said in a statement on X, adding that King Philippe had deferred a decision on whether to accept it.
The king will begin consultations with the leaders of the governing coalition parties on Tuesday and receive De Wever again on Friday, the statement said.
The palace said the king regretted the failure to agree on a credible budget addressing current challenges. Amid geopolitical uncertainty and major economic challenges, Belgium could not afford a prolonged political crisis, it said.
The king urged all parties involved to put the public interest and a willingness to compromise first.
The five-party coalition has been seeking an agreement on 10 billion euros (about 11.2 billion U.S. dollars) in spending cuts and tax increases to shore up public finances, but remains divided over the balance between the two.
De Wever's Flemish nationalist N-VA and the liberal MR favor greater spending restraint, including in healthcare, while their socialist and centrist coalition partners want a larger share of the budget adjustment to come from taxes on wealth.
Belgium's budget deficit amounted to 5.2 percent of GDP in 2025, while government debt stood at 108.1 percent of GDP at year-end, according to Eurostat. Both ratios were well above the EU's reference values of 3 percent and 60 percent, respectively. ■