Belgian Prime Minister Bart De Wever has offered his government's resignation to King Philippe after coalition parties failed to agree on the budget.

Axar.az reports, citing Belgian broadcaster VRT, that negotiations broke down early Monday after the government failed to agree on measures to find €10 billion in savings by 2029.

The main disagreement concerned how the burden should be distributed, particularly between healthcare spending cuts and higher taxes on wealthy individuals.

The king has not yet accepted the resignation and will consult party leaders in an effort to find a compromise.

The failure means Belgium is set to begin next year with a provisional budget.