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Belgium

Belgium

Most recent publications on Belgium:

Headwinds mount on Belgian housing market

Headwinds mount on Belgian housing market

Growth rate has likely been fairly even across the three regions in 2022

Growth rate has likely been fairly even across the three regions in 2022
Belgium still has some way to go on sustainability

Belgium still has some way to go on sustainability
Inflation curbs Belgian consumption growth, but how much?

Inflation curbs Belgian consumption growth, but how much?
Paradox in the car industry

Paradox in the car industry
Labour hoarding in uncertain times

Labour hoarding in uncertain times
School leavers on their way to the labour market

School leavers on their way to the labour market
Inflation shocks with real impact

Inflation shocks with real impact

Overhang effect masks 'real' growth of Belgian economy

Overhang effect masks 'real' growth of Belgian economy
US housing market: rising prices meet rising rates

US housing market: rising prices meet rising rates
Less exuberant housing market after peak year 2021

Less exuberant housing market after peak year 2021
Non-existent bankruptcy wave on the way after all?

Non-existent bankruptcy wave on the way after all?
Is the affordability of Belgian real estate under threat?

Is the affordability of Belgian real estate under threat?
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Forecasts for the Belgian economy

National accounts (real yearly change, in %)
              2022 2023 2024
Private consumption 4.3 1.9 1.7
Public consumption 1.4 1.5 1.5
Investment in fixed capital -1.6 -0.8 2.2
Corporate investment -1.7 0.7 2.6
Public investment -6.9 -3.5 2.5
Residential building investment 1.6 -4.2 0.7
Final domestic demand (excl. changes in inventories) 2.1 1.2 1.8
Change in inventories (contribution to growth) 0.7 0.0 0.0
Exports of goods and services 4.6 0.4 2.0
Imports of goods and services 4.2 0.9 2.6
       
Gross domestic product (GDP) 3.1 0.7 1.2
       
Household disposable income -1.2 3.5 1.2
Household savings rate (% of disposable income) 12.9 14.2 13.8

Equilibrium indicators 
              2022 2023 2024
Inflation (average yearly change, in %)      
Consumer prices (harmonised CPI) 10.3 4.6 2.8
Health index (national CPI) 9.2 4.8 3.1
       
Labour market      
Domestic employment (yearly change, in '000, year end) 72.8 25.0 35.0
Unemployment rate (in % of labour force, end of year, Eurostat definition) 5.8 6.1 5.8
       
Public finances (in % of GDP, on unchanged policy)      
Overall balance -4.0 -5.7 -5.4
Public debt 105.0 108.3 110.3
       
Current account balance (in % of GDP) -4.4 -4.0 -3.0
       
House prices (average yearly change in %, existing and new dwellings, Eurostat definition) 5.3 2.5 2.0