Belgium: 2009 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion
March 15, 2010
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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 remain subdued. Uncertainty to the outlook is high but risks appear broadly balanced. The crisis will have a considerable downward impact on potential growth, in addition to that of demographic factors, in 2009–11.
Subject: Banking, Financial crises, Fiscal policy, Fiscal rules, Fiscal stance, Potential output, Production, Public debt
Keywords: Australia and New Zealand, balance rule, bank, banks capacity, capital base, CR, credit squeeze, draft crisis law, Europe, fiscal consolidation strategy, fiscal policy, Fiscal rules, Fiscal stance, Global, government, IMF staff projection, ISCR, Potential output, product market reform
Pages:
70
Volume:
2010
DOI:
Issue:
063
Series:
Country Report No. 2010/063
Stock No:
1BELEA2010001
ISBN:
9781451980547
ISSN:
1934-7685
