Dexia recap drives up Belgium deficit BELGIUM'S 2.9 billion euro ($A3.6 billion) share of a state recapitalisation of failed Franco-Belgian bank Dexia has driven up its 2012 public deficit to 3.9 per cent of GDP, well above the EU limit, the central bank says. The government's public deficit target for 2012 was 2.8 per cent of gross domestic product, within the EU 3.0 per cent ceiling. Belgium is negotiating with the European Commission to raise its current 2013 target from 2.15 per cent of GDP to a figure closer to 2.5 per cent. France, whose share of the Dexia rescue amounted to 2.5 billion euros, is heading for a similar overshoot this year and is seeking extra leeway from Brussels to extend its deadline to conform until next year.