BRUSSELS, November 2. /TASS/. Belgian Prime Minister Bart De Wever has submitted his resignation to the king over the failure of coalition negotiations on the kingdom's 2027 budget, a statement of the royal palace says.

As a rule, the monarch rejects the first resignation request from the head of government and instructs him to undertake another negotiation effort. Often, under the threat of a political crisis, parties compromise unless most of them find it more politically advantageous to arrange new elections.

Currently, the Belgian government lacks 10 billion euros because of increased military spending, which entails either cutting social spending or raising taxes and fees.

Last year, Belgium's debt stood at 735 billion euros, or an unprecedented 110% of GDP. De Wever is trying to make every effort to prevent its further growth, that is, not to plug in the deficit with new loans.