The global financial crisis has forced government intervention in major financial institutions in Belgium. This 2008 Article IV Consultation discusses that the boom in energy and food prices in early 2008 caused inflation to spike to well above the euro area average. Executive Directors have...

This 2011 Article IV Consultation reports that the vulnerability of Belgium’s sovereign debt to market pressures makes credible medium-term fiscal consolidation a priority. The 2012 budget includes sizable consolidation measures, and the government is committed to take additional measures as...

After being hit by a severe recession in 2008–09, the Belgian economy is gradually recovering. When core inflation remained subdued in 2010, headline inflation jumped up due to the energy price hike. The growth of potential output is expected to revert to its declining trend over the medium...

For the time being—and possibly for a considerable time to come—developments and prospects for the euro area are quite favorable. This upbeat outlook is underpinned by buoyant activity indicators and a supportive policy mix. High household and business confidence, rising capacity utilization...

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 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,...