Belgian PM tenders resignation over failed budget talks, king reserves decision

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.

Belgian PM tenders resignation over failed budget talks, king reserves decision

Belgian PM tenders resignation over failed budget talks, king reserves decision

Belgian PM tenders resignation over failed budget talks, king reserves decision

Belgian PM tenders resignation over failed budget talks, king reserves decision

More than 30 female entrepreneurs from developing countries visited exhibition booths and carried out business negotiations at the 140th edition of the China Import and Export Fair (Canton Fair) in Guangzhou City, south China's Guangdong Province, on Monday.

This year, the UN Trade and Development (UNCTAD) organized for the first time a delegation of female entrepreneurs from developing countries to attend the Canton Fair.

The 34 female entrepreneurs mainly came from Latin America, Africa and Asia, and most of them are running small and micro enterprises in their respective countries, with the products covering daily consumer goods, handicrafts, textiles, clothing, and processing of specialty agricultural products.

They were amazed by a clothing AI agent, which was able to show try-on effects of various types of clothes.

"I love the clothes, the dresses, I love it. When I try it, I feel mannequin. I'm so happy to be here," said an entrepreneur from Cote d'Ivoire.

"I am looking for contract manufacturing for skincare, and also I'm looking for packaging," said another entrepreneur from Peru.

The delegation also participated in themed forums and dedicated supply-and-purchase matchmaking events.

On topics such as support for female entrepreneurship and cross-border trade for small and medium-sized enterprises, participants shared the opportunities and challenges for female entrepreneurs in developing countries, and exchanged experiences in cross-border trade, which helped build a platform for establishing connections and expanding cooperation among enterprises.

"Every time I go to Canton Fair, I buy some samples and keep in touch with every supplier I meet. Now I want to buy more products in the Canton Fair," said an entrepreneur from Vietnam.

The 140th Canton Fair runs in three phases in Guangzhou from Oct 15 to Nov 4.

Female entrepreneurs from developing countries experience goods, build connections at Canton Fair