Belgium

Belgium

Most recent publications on Belgium:

Cooling Belgian housing market will soften, but outlook remains subdued

Cooling Belgian housing market will soften, but outlook remains subdued

Brussels is middle of the pack in comparison to European cities

Brussels is middle of the pack in comparison to European cities
Socio-demographic trends are changing Belgian housing market

Socio-demographic trends are changing Belgian housing market

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

Forecasts for the Belgian economy

National accounts (real yearly change, in %)

              2023 2024 2025
Private consumption 1.4 1.5 1.4
Public consumption 0.4 2.3 1.0
Investment in fixed capital 3.3 -2.2 2.4
Corporate investment 6.3 -2.5 2.9
Public investment 2.5 3.1 2.6
Residential building investment -5.7 -4.5 0.6
Final domestic demand (excl. changes in inventories) 1.6 0.8 1.6
Change in inventories (contribution to growth) 0.4 0.0 0.0
Exports of goods and services -3.3 -0.9 2.3
Imports of goods and services -2.8 -1.4 2.8
       
Gross domestic product (GDP) 1.5 1.2 1.2
       
Household disposable income 4.4 1.8 1.4
Household savings rate (% of disposable income) 14.6 14.9 14.7

Equilibrium indicators 

              2023 2024 2025
Inflation (average yearly change, in %)      
Consumer prices (harmonised CPI) 2.3 3.8 2.1
Health index (national CPI) 4.3 3.5 2.1
       
Labour market      
Domestic employment (yearly change, in '000, year end) 29.2 20.0 30.0
Unemployment rate (in % of labour force, end of year, Eurostat definition) 5.6 5.6 5.5
       
Public finances (in % of GDP, on unchanged policy)      
Overall balance -4.4 -4.5 -4.9
Public debt 105.2 105.7 107.4
       
Current account balance (in % of GDP) -1.0 -0.5 -1.0
       
House prices (average yearly change in %, existing and new dwellings, Eurostat definition) 2.5 2.8 3.0