Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, March 1, 2006
Source details
- Canonical URL
- Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: March 1, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451803235.002
Growth outlook and recent developments
- Growth picked up following weakness in early 2005.
- Weakness in early 2005 mainly reflected 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 to strengthen into 2006 to somewhat more than 2 percent.
Demand composition and sectoral outlook
- Private consumption
- Projected to pick up in response to tax cuts.
- External sector
- Provided a negative contribution to growth in early 2005.
- Improvement in demand from trading partners is a driver of the projected strengthening into 2006.
- Residential construction
- Likely to remain resilient.
- Housing price growth is likely to slow.
Key themes and policy-relevant topics covered
- Expenditure
- Labor
- Public debt
- Taxes
- Related keywords noted in the source: budget surplus, CR, GDP, Global, house price growth, housing price development, IMF staff projection, ISCR, Labor costs, labor market rigidity, rate, Social security contributions, staff project GDP growth, tax, Wages
Belgium: 2005 Article IV Consultation Staff Report; and Public Information Notice on the Executive Board Discussion