Fiscal sustainability is one of several policy objectives that Afghanistan is expected to achieve in the context of the Poverty Reduction Growth Facility-supported program. There is a need to develop a comprehensive financial sector strategy aimed at deepening financial intermediation and...

This Selected Issues paper provides a preliminary view on Afghanistan’s external competitiveness through a review of some macroeconomic, microeconomic, and institutional indicators. It discusses the rebuilding of domestic revenue, and analyzes the macroeconomic impact of the drug economy and...

This 2005 Article IV Consultation highlights that Belgium’s growth has picked up following weakness in early 2005, mainly reflecting a negative contribution from the external sector and weak household consumption owing to high energy prices. The authorities and the IMF staff project GDP growth...

This Selected Issues paper analyzes fiscal devolution in Belgium. It examines long-term fiscal strategies for meeting the fiscal burden of population aging. The paper presents estimates of the fiscal costs of population aging in Belgium, and discusses their sensitivity to underlying assumptions....

This 2002 Article IV Consultation highlights that Belgium’s real GDP growth fell sharply in 2001 to 0.8 percent and remained weak in 2002 at an estimated 0.7 percent. The fundamental factor behind these developments was the slowdown in the economies of Belgium’s trading partners, especially...

This Selected Issues paper focuses on the fiscal challenge for Belgium in coping with population aging, including the sustainability of prevailing fiscal federalism arrangements across all levels of governments. The analysis demonstrates that the current strategy of upfront consolidation is...

The 2009 Article IV Consultation highlights that the near-term outlook for Belgium is challenging, with real GDP expected to drop by about 3 percent in 2009 and a gradual recovery projected for 2010. The unemployment rate will continue to rise in 2010, and inflation pressures are expected to...

This Selected Issues paper analyzes the challenge of population aging for Belgium. It argues that the aging strategy should be broadened to include more explicitly the objective of raising employment rates to foster potential growth. The paper discusses assumptions underlying the official aging...

This Selected Issues paper analyzes the regional labor markets for Belgium. The paper examines labor market performance, and argues that a number of factors—poor worker-job matching, a compressed wage structure, and low geographical mobility—contribute to economic disparities. The paper...

This 2001 Article IV Consultation highlights that following four years of robust expansion, real GDP growth in Belgium slowed markedly in 2001, as higher oil prices, declining equity values, and the deteriorating external environment adversely affected business investment, household consumption,...