This technical note provides an update on the systemic risk analysis and stress testing in Belgium. The Financial Sector Assessment Program (FSAP) banks solvency stress tests show that the Belgian significant institutions are resilient under the adverse scenario while some heterogeneity exists....

This technical note discusses macroprudential policy framework and tools in Belgium. The macroprudential policy framework could be strengthened along several dimensions. The government should publish its rationale for macroprudential policy decisions, including in the case of inaction to enact...

This paper focuses on the technical note on regulation and supervision of less significant institutions in Belgium. The financial sector assessment program (FSAP) undertook a targeted review of Belgium's Less Significant Institutions (LSI) and third-country branches (TCBs) banking regulation and...

This report on Belgium discusses the technical note on financial safety net and crisis management. The authorities should now focus on strengthening the crisis management framework, ensure the operational readiness of resolution plans and enhancing the Deposit Insurance System. The Belgium...

The Financial Sector Assessment Program (FSAP) conducted a focused review of insurance regulation and supervision in Belgium. This technical note (TN) provides an update on the insurance sector and highlights risks and vulnerabilities. It analyzes key aspects of regulatory and supervisory...

This paper focuses on the report on Belgium's Financial Sector Assessment Program. Economic activity has slowed, core inflation remains high, and the fiscal outlook is challenging. The financial sector has remained resilient despite a series of shocks. Key financial stability risks emanate from...

This Selected Issues paper explores different aspects of fiscal consolidation in Belgium. Belgium is facing higher structural deficits and rising debt after the pandemic and energy crisis. Fiscal consolidation is needed to lower inflation, rebuild buffers, reduce debt, and preserve Belgium's...

The 2023 Article IV Consultation discusses that though resilient to shocks, the Belgium economy and financial sector face significant cyclical and structural challenges and risks to the outlook. Owing to a strong and timely policy response, the economy resisted the coronavirus disease and energy...

This paper presents the results of applying the Revenue Administration Gap Analysis Program - Value-Added Tax (RA-GAP VAT) gap estimation methodology to Belgium for the period 2011-2021. The RAGAP methodology employs a top-down approach for estimating the potential VAT base, using statistical...

Belgium's current policies fall short of achieving its climate targets and promoting emissions reductions at limited economic costs. We recommend that domestic carbon pricing form the centerpiece of an emissions reduction package, as pricing promotes mitigation at the lowest economic cost, can...