{
  "title": "Belgium: 2015 Article IV Consultation—Staff Report; and Press Release",
  "publication": "IMF Staff Country Reports, March 12, 2015",
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  "summary": "This 2015 Article IV Consultation highlights that Belgian economy has shown considerable resilience but the outlook is weighed down by weak demand in Europe. Healthy private balance sheets, integration with Germany, and employment support schemes have helped sustain employment and economic activity.",
  "sections": [
    {
      "heading": "Macroeconomic assessment and outlook",
      "content": "- Belgian economy has shown considerable resilience but the outlook is weighed down by weak demand in Europe.\n- Output is still well below potential.\n- Growth prospects are described as \"subdued growth prospect\", and with subdued growth prospects, job creation remains insufficient.\n- Fiscal adjustment is expected to resume after a pause in 2014.\n- The pace of adjustment targeted by the authorities for 2015–16 is appropriate given the level of debt and related risks."
    },
    {
      "heading": "Drivers of resilience",
      "content": "- Healthy private balance sheets.\n- Integration with Germany.\n- Employment support schemes that have helped sustain employment and economic activity."
    },
    {
      "heading": "Labor market and social policy implications",
      "content": "- Employment support schemes have sustained employment and activity, but job creation remains insufficient given output below potential.\n- Relevant subject areas listed: Employment; Labor; Labor taxes; Unemployment benefits; Income."
    },
    {
      "heading": "Fiscal policy and public finances",
      "content": "- Fiscal consolidation: fiscal adjustment to resume after a pause in 2014.\n- The authorities target a pace of adjustment for 2015–16 judged appropriate in light of debt and related risks.\n- Relevant subject areas listed: Expenditure; Fiscal consolidation; Taxes; Budget; Government."
    },
    {
      "heading": "Financial sector and AML/CFT",
      "content": "- Relevant subject areas: Banking; Anti-money laundering and combating the financing of terrorism (AML/CFT); CFT framework; Assessment methodology."
    },
    {
      "heading": "Publication metadata and identifiers",
      "content": "- Pages: 60\n- Volume: 2015\n- Issue: 070\n- Series: Country Report No. 2015/070\n- DOI: https://doi.org/10.5089/9781498355100.002\n- Stock No: 1BELEA2015001\n- ISBN: 9781498355100\n- ISSN: 1934-7685\n\nInternational Monetary Fund. European Dept. \"Belgium: 2015 Article IV Consultation—Staff Report; and Press Release\", IMF Staff Country Reports 2015, 070 (2015), accessed 9/11/2026, https://doi.org/10.5089/9781498355100.002\n\n---\n\n Content in this bundle\n\n- cr1570\n  - cr1570 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr1570 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 12, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498355100.002",
    "Belgian economy has shown considerable resilience but the outlook is weighed down by weak demand in Europe.",
    "Output is still well below potential.",
    "Growth prospects are described as \"subdued growth prospect\", and with subdued growth prospects, job creation remains insufficient.",
    "Fiscal adjustment is expected to resume after a pause in 2014.",
    "The pace of adjustment targeted by the authorities for 2015–16 is appropriate given the level of debt and related risks.",
    "Healthy private balance sheets.",
    "Integration with Germany.",
    "Relevant subject areas listed: Employment; Labor; Labor taxes; Unemployment benefits; Income.",
    "The authorities target a pace of adjustment for 2015–16 judged appropriate in light of debt and related risks.",
    "Relevant subject areas listed: Expenditure; Fiscal consolidation; Taxes; Budget; Government.",
    "Relevant subject areas: Banking; Anti-money laundering and combating the financing of terrorism (AML/CFT); CFT framework; Assessment methodology.",
    "Pages: 60",
    "Volume: 2015",
    "Issue: 070",
    "Series: Country Report No. 2015/070",
    "DOI: https://doi.org/10.5089/9781498355100.002",
    "Stock No: 1BELEA2015001",
    "ISBN: 9781498355100",
    "ISSN: 1934-7685",
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