Belgium Economic Forecast

Belgium Economic Outlook

November 21, 2017

Preliminary data showed that the economy lost some steam in Q3, as quarter-on-quarter growth slowed from 0.5% in Q2 to 0.3%. While a breakdown by components is not yet available, the deceleration is most likely a blip. In October, business confidence improved and consumer confidence reached a new multi-year high, supported in part by a strengthening labor market. The steady pace of economic growth should spur an increase in public revenues and enable the government to mend public finances. This will help stabilize the fiscal deficit and allow the government to lower the exorbitant public debt-to-GDP ratio, which currently exceeds 100%.

Belgium Economic Growth

The economy is set to grow at a steady pace next year thanks to healthy private consumption. Private consumption is set to benefit from an improving labor market and higher purchasing power as a wage agreement comes into effect this year. FocusEconomics panelists expect GDP to expand 1.7% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, GDP is expected to grow 1.6%.

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Belgium Facts

Bond Yield0.490.15 %Dec 06
Exchange Rate1.180.65 %Dec 06
Stock Market3,980-0.23 %Dec 06

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