Belgium

Belgium

Most recent publications on Belgium:

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?

Uneven regional recovery in 2021 from the 2020 Covid-19 trough

Uneven regional recovery in 2021 from the 2020 Covid-19 trough

Belgium can still step up a gear in sustainability

Belgium can still step up a gear in sustainability

Getting rid of vacant commercial premises in Belgium

Getting rid of vacant commercial premises in Belgium
Regional public finances in Belgium on an unsustainable path

Regional public finances in Belgium on an unsustainable path

Construction costs push up prices of new and existing dwellings

Construction costs push up prices of new and existing dwellings

ECONOMIC POLICY IN BELGIUM (1960–2021)

ECONOMIC POLICY IN BELGIUM (1960–2021)

More than ever, let’s take care of what’s on our plates

More than ever, let’s take care of what’s on our plates

Forecasts for the Belgian economy

National accounts (real yearly change, in %)

              2021 2022 2023
Private consumption 6.4 3.6 1.2
Public consumption 4.4 1.4 1.5
Investment in fixed capital 7.8 0.2 2.9
Corporate investment 8.0 0.7 3.3
Public investment 2.6 -11.0 2.5
Residential building investment 10.0 4.4 1.7
Final domestic demand (excl. changes in inventories) 6.3 2.2 1.7
Change in inventories (contribution to growth) -0.5 0.7 0.0
Exports of goods and services 9.6 1.8 2.2
Imports of goods and services 9.1 2.7 3.3
       
Gross domestic product (GDP) 6.2 2.1 0.8
       
Household disposable income 1.8 0.1 1.5
Household savings rate (% of disposable income) 16.4 13.7 14.0

Equilibrium indicators 

              2021 2022 2023
Inflation (average yearly change, in %)      
Consumer prices (harmonised CPI) 3.2 8.7 3.4
Health index (national CPI) 2.0 8.2 3.8
       
Labour market      
Domestic employment (yearly change, in '000, year end) 109.0 50.1 30.0
Unemployment rate (in % of labour force, end of year, Eurostat definition) 5.7 5.9 6.1
       
Public finances (in % of GDP, on unchanged policy)      
Overall balance -5.5 -4.7 -4.9
Public debt 108.2 105.6 108.3
       
Current account balance (in % of GDP) -0.4 -2.4 -2.4
       
House prices (average yearly change in %, existing and new dwellings, Eurostat definition) 7.1 4.5 2.5